FOX · 10-Q · 2026Q3 · Full report

Operating Expense Trends

Fox Corp (FOX, FOXA) · 2026-11-02 · Importance 52 · Surprise 40 · In source text

Consolidated operating expenses increased $242 million, or 11%, to $2.363 billion for the three months ended September 30, 2026. Approximately $120 million of the increase reflected higher sports programming rights amortization and production costs, led by the FIFA Men’s World Cup, partly offset by lower NFL costs due to game timing. The remaining increase of approximately $120 million was primarily attributable to higher digital content costs, partly offset by lower entertainment programming rights amortization. Television operating expenses increased $111 million, or 8%, and Cable Network Programming expenses increased $90 million, or 13%, with sports rights and production costs among the drivers.

Key facts

• Fox operating expenses increased $242 million, or 11%, primarily due to approximately $120 million of higher sports programming rights amortization and production costs led by the FIFA Men's World Cup broadcast, partly offset by lower NFL costs from game timing; the remaining approximately $120 million increase was primarily due to higher digital content costs, partly offset by lower entertainment programming rights amortization. source
• Cable Network Programming operating expenses increased $90 million, or 13%, primarily due to higher sports programming rights amortization and production costs led by soccer rights, including the FIFA Men's World Cup, and higher news programming costs. source
• Television operating expenses increased $111 million, or 8%, primarily due to higher sports programming rights amortization and production costs led by the FIFA Men's World Cup, partly offset by lower NFL costs from game timing; higher digital content costs were partly offset by lower entertainment programming rights amortization. source
• Fox selling, general and administrative expenses increased $15 million, or 3%, primarily due to higher employee costs, partly offset by lower legal costs. source
• Cable Network Programming selling, general and administrative expenses decreased $8 million, or 5%, primarily due to lower legal costs. source
• Television selling, general and administrative expenses increased $17 million, or 6%, primarily due to higher employee costs. source

Impact estimates