Fox CFO Steven Tomsic said Tuesday that the company is looking at “surgical strikes” when it comes to potential acquisitions, rather than any sort of massive deal
After 21st Century Fox closed the sale of its entertainment assets in March, creating the news and sports-focused Fox Corp., the company has been active in the M&A market, buying Credible Labs and Bento Box, investing $100 million in the streaming startup Caffeine, and acquiring local TV stations in Wisconsin and Seattle.
One thing that will definitely be a factor in 2020 is political ad revenue, driven by a contentious Democratic primary, and significant expected ad spending from President Trump. “We think it is incumbent on us to use the schedule not only to drive the retrans and ad revenue, but to try and use that audience to create asset value in other parts of the schedule,” he said. “We have precious little airtime available for the entertainment side of the business, and it is surrounded by sports.”
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