Damon Mcknight
Fox News is a news channel that is available in over 40 countries, including Australia and Saudi Arabia. Fox News was founded by Rupert Murdoch, an Australian publisher, in 1996. Murdoch established Fox as a TV network in the United States, and Fox News is currently owned by Fox Corporation, a US company. Fox News is carried in Australia by Foxtel, which is 65% owned by News Corp Australia, the Australian arm of News Corp and the sister company of Fox Corporation. Saudi Prince Alwaleed bin Talal was a close ally of Murdoch and had invested $400 million in News Corp in 1997, but in 2017, he sold all of his 21st Century Fox shares, totaling $1.5 billion. Therefore, while Fox News is available in both countries, it is not owned by either Australia or Saudi Arabia.
| Characteristics | Values |
|---|---|
| Is Fox News owned by Saudi Arabia? | No, but there is a history of Saudi investment in the company. |
| Who owns Fox News? | Rupert Murdoch and his family. |
| Who else has owned shares in Fox News? | Saudi Prince Alwaleed bin Talal, who sold his stake in 2017. |
| What percentage of Fox News did Prince Alwaleed own? | Between 5% and 7% at different times. |
| What is the relationship between Fox News and Saudi Arabia? | Prince Alwaleed has been accused of influencing Fox News coverage of Muslims and Saudi Arabia. |
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What You'll Learn
Fox News' Australian connections
Fox News, the Fox Broadcasting Company, was launched in 1986 by Rupert Murdoch, who became a naturalized American citizen in 1985. Murdoch, who is Australian, runs Fox News alongside his sons Lachlan and James. Lachlan Murdoch is the executive co-chair of 21st Century Fox, which at one time had a Saudi royal, Prince Alwaleed bin Talal, as a major shareholder.
Prince Alwaleed bin Talal, whose grandfather was the founding king of modern Saudi Arabia, owned more than 6% of 21st Century Fox at one point. He has been a shareholder in Murdoch companies, including Fox and News Corp, for two decades. He has consistently backed the Murdochs in shareholder votes about the family’s control of the company. However, in 2017, Prince Alwaleed sold his stake in 21st Century Fox.
In 1995, the Fox network became the object of scrutiny from the Federal Communications Commission (FCC) when it was alleged that its Australian base made Murdoch's ownership of Fox illegal. The FCC, however, ruled in Murdoch's favour, stating that his ownership of Fox was in the public's best interests.
In 1995, News Corporation, in partnership with Telstra, launched Foxtel, an Australian pay television company that operates cable television, direct broadcast satellite television, and IPTV streaming services. Foxtel has since grown to become a popular TV network that primarily works from Australia. It provides an exclusive Foxtel Plus channel pack to its audience, which includes Fox News, among other channels.
In addition to the above, Fox News Digital has also covered stories relating to Australia, such as a drug bust off the coast of New South Wales, the discovery of a 19th-century shipwreck, and the re-election of Australian Prime Minister Anthony Albanese.
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Rupert Murdoch's ownership of Fox News
Rupert Murdoch is an Australian-born American business magnate, investor, and media mogul. He is the owner of News Corp, a media company that owns hundreds of local, national, and international publishing outlets, including Fox News. Murdoch's empire also includes other influential newspapers such as The Sun, The Times, The Wall Street Journal, and The New York Post, as well as television broadcasting channels like Sky News Australia and Sky.
Murdoch's foray into the American market began in 1973 when he purchased the San Antonio Express-News. He moved to New York City in 1974 and soon founded Star, a supermarket tabloid. In 1976, he bought The New York Post, his first major U.S. acquisition. Murdoch became a naturalized American citizen in 1985 to comply with the legal requirement that only U.S. citizens could own American television stations. That same year, he acquired Metromedia's television stations and syndication arm, setting the stage for the launch of Fox.
In 1986, the Fox Broadcasting Company, simply known as Fox, was launched. Murdoch's Fox network faced scrutiny in 1995 when its Australian base led to questions about the legality of his ownership. However, the Federal Communications Commission (FCC) ruled in Murdoch's favor, citing the public's best interests. Murdoch then entered the cable news market in 1996 with the Fox News Channel, a 24-hour cable news station.
While Murdoch has stepped down as chairman of Fox and News Corp, he remains a powerful figure in the media landscape. His son, Lachlan Murdoch, currently runs the new Fox, which includes its broadcast, cable news, business, and sports networks. The Murdochs control about 39% of the voting rights in Fox, giving them significant influence over key decisions, despite owning only about 17% of the shares.
It is worth noting that while Murdoch's ownership of Fox News is well-established, there have been reports of a Saudi connection. Prince Alwaleed bin Talal, a member of the Saudi Royal Family, was once a significant shareholder in Murdoch's companies, including Fox and News Corp. While his stake has been reduced or sold, he was considered a key ally and consistently supported the Murdochs in shareholder votes.
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Fox News' Saudi ties
Fox News is owned by Fox Corporation, which is traded publicly on the stock market. As of 2022, the Murdoch family owns a 17% stake in Fox Corporation, giving them control of 39% of the voting rights.
There have been speculations about Saudi Arabia's ties with Fox News. In 2014, a Facebook group called "Americans Against the Republican Party" claimed that the No. 2 owner of Fox News was Saudi Prince Alwaleed bin Talal, who once said, "a strong American government is not good for us." However, this claim is misleading. While Prince Alwaleed did own shares in 21st Century Fox, the parent company of Fox News, he never qualified as a "co-owner." His investment firm, Kingdom Holding Company, once held a 6.6% stake in 21st Century Fox, which fell to 4.98% in December 2015 and was further reduced to zero by September 2017.
Prince Alwaleed bin Talal is a member of the Saudi Royal Family and is considered one of the world's richest men. He has been a significant investor in News Corporation, the parent company of Fox News, and has consistently backed the Murdochs in shareholder votes. In 2005, Fox News changed its coverage of the Muslim riots in France from "Muslim riots" to "civil riots" after Prince Alwaleed expressed his objection to highlighting the Muslim role in the riots.
In 2015, it was announced that Prince Alwaleed bin Talal was joining forces with Fox News boss Rupert Murdoch to launch a 24-hour cable news channel for the Arab world. This partnership aimed to compete with existing channels such as al Arabiya and al Jazeera. However, the channel's neo-con leanings and pro-Israel stance were seen as a strange fit for the Arab world.
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Saudi Prince Alwaleed's investment in Fox
Saudi Prince Alwaleed bin Talal, who is one of the world's richest men, has been a close ally of Rupert Murdoch and a major stakeholder in 21st Century Fox, the parent company of Fox News. In 1997, he purchased $400 million of non-voting stocks, or three percent, of Murdoch's News Corporation, which owned 21st Century Fox until 2013.
Prince Alwaleed's investment in Fox News dates back to the early days of the network. In 1997, he invested $400 million in News Corporation, the parent company of Fox News at the time. This gave him a three percent stake in the company. In 1999, he invested an additional $200 million in News Corporation. When News Corporation acquired Fox Entertainment in 2005, Prince Alwaleed's three percent non-voting shares were converted to a 5.5 percent share of News Corporation with voting rights. At one point, it was estimated that he owned up to six percent of 21st Century Fox.
Prince Alwaleed has consistently supported the Murdochs in shareholder votes and expressed public support for the family during the phone-hacking scandal at News of the World in 2011. He also owns the Arab world's largest entertainment company, Rotana Group, in which News Corp invested $175 million (19 percent) in 2013.
However, in 2017, Prince Alwaleed sold all his shares in 21st Century Fox, totalling $1.5 billion. This sale was seen as a blow to the Murdochs, leaving the company more vulnerable to shareholder rebellions. The reason for the sale is not clear, as Prince Alwaleed was arrested on corruption charges around the same time, and it is unknown if his assets were frozen.
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Fox News' international availability
Fox News is available internationally through its website and mobile applications. The Fox News International website provides users with access to the latest U.S. news and election stories, while the Fox News mobile app offers 24/7 access to breaking national and international headlines, live streams, on-demand videos, and podcasts. Users can also play games, follow their favourite personalities, and share articles on social media.
In addition to its direct-to-consumer offerings, Fox News is also available through various television platforms and streaming services in different countries. For example, in Australia, Fox News is available through the Foxtel pay television network, a partnership between News Corporation, Telstra, and Publishing & Broadcasting Limited.
Historically, Fox News has had a complex ownership structure involving the Murdoch family and outside investors. While the Murdochs control key decision-making through voting rights, their share ownership is limited to about 17%. One notable outside investor was Saudi Prince Alwaleed bin Talal, who consistently backed the Murdochs and owned more than 6% of Fox at one point. However, in 2017, Prince Alwaleed sold his stake in 21st Century Fox, reducing Murdoch's dominance over the company.
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Frequently asked questions
No, Fox News is not owned by Saudi Arabia. However, there is a connection between Saudi Arabia and Fox News through Saudi Prince Alwaleed bin Talal, who was a close ally of Rupert Murdoch. In 1997, Prince Alwaleed invested $400 million in News Corp. In 2017, he sold all of his 21st Century Fox shares totalling $1.5 billion.
No, Fox News is not owned by Australia. However, Fox News does have a strong connection to Australia through Australian publisher and founder of News Corp, Rupert Murdoch. Murdoch is also the co-executive chairman of 21st Century Fox. Fox News is carried in Australia through Foxtel, which is 65% owned by News Corp Australia, the Australian arm of News Corp.
Fox News is owned by the Fox Corporation, which is a sister company of Fox News Channel's owner, Fox Corporation. Fox Corporation is owned by media conglomerate News Corp, which was founded by Australian publisher Rupert Murdoch in 1980.
