Fox to Raise $1.2 Billion After Saying Coronavirus May Have ‘Material’ Impact on Earnings

Fox to Raise $1.2 Billion After Saying Coronavirus May Have ‘Material’ Impact on Earnings
Fox says it plans to raise $1.2 billion through the sale of senior notes and use the money “for general corporate purposes.”

Hey, everyone needs a little extra cash these days.

Earlier on Tuesday, Fox became the latest major media corporation to tamp down any optimistic financial expectations. As a general rule, Fox does not provide actual financial guidance, so there were technically no specifics to alter.

Also Read: Fox News Insider Denies Judge Jeanine Pirro Was Drunk, Explains 'Technical Difficulties' in 1st Home Broadcast

While Fox News has been a bright spot as viewers flock to the network for information on the pandemic, a number of canceled or postponed sporting events are threatening to offset those gains. And then there are just regular TV and film productions that are on hiatus as social distancing has become our new normal.

“The impact of coronavirus disease 2019 (Covid-19) and measures to prevent its
See full article at The Wrap »

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