FOX Corporation 'may be the best positioned of its pure media peers to weather the pandemic due to its conservative financial policy'
The finance firm notes that the media conglomerate"could end fiscal year 2020 with $4.6 billion of cash on its balance sheet."
The company, comprised of Fox News, Fox Sports and Fox Entertainment, as well as local TV stations, "may be the best positioned of its pure media peers to weather the pandemic due to its conservative financial policy," the research firm said Wednesday in an advisory. Fox Corp. on March 31 disclosed that ratings for Fox News had risen amid the crisis but that "COVID-19 could have a material adverse effect on the company’s business, financial condition or results of operations over the near to medium term," citing its production halt and broadcast cancellations. his Fox Corp. rating from "neutral" to "buy," similarly noting that "Fox is best positioned among peers in a weaker, but ultimately stable consumer environment.
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