If you’ve ever sat through a commercial break on a Sunday afternoon football game or caught the 6 o'clock news, you’ve probably seen that iconic, bold "FOX" logo. But here’s where it gets weird. Depending on what year you think it is, you might be totally wrong about who’s actually cashing the checks.
Most people still think Disney owns everything. They don't. Others think Rupert Murdoch is still the one calling every single shot from a high-back chair. Not quite.
As we move through 2026, the reality of who owns Fox TV is a mix of a massive family trust, a specific corporate spin-off, and a legal battle that was basically Succession in real life. Honestly, it’s a bit of a maze, but let’s break down who really pulls the strings.
Who Owns Fox TV? The Big Picture
To understand the "who," you have to understand the "what." In 2019, the old version of the company (21st Century Fox) was basically chopped in half. Disney bought the movie studios—think Avatar, The Simpsons, and the X-Men—for a staggering $71.3 billion.
But Disney couldn't buy the actual Fox TV network. Why? Because Disney already owns ABC. The government has rules against one company owning two of the four major broadcast networks. It’s a monopoly thing.
So, the "leftovers"—which were actually the most profitable parts—became a brand-new company called Fox Corporation. This is the entity that owns Fox TV today. It’s a slimmed-down, live-content machine that focuses almost entirely on news and sports.
The Power Player: Lachlan Murdoch
If you’re looking for one name, it’s Lachlan Murdoch.
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While his father, Rupert Murdoch, is the legendary founder and now holds the title of Chairman Emeritus, Lachlan is the Executive Chair and CEO. As of early 2026, he is firmly in the driver’s seat.
For a long time, there was a massive question mark over whether Lachlan would stay in charge. His siblings—James, Elisabeth, and Prudence—had equal voting rights in the family trust. It was a mess. But in September 2025, a major legal settlement changed everything. Lachlan won.
He now has sole voting control over the Murdoch Family Trust. This means even though thousands of people own stock in Fox, Lachlan is the one who decides where the company goes. He’s the guy who decided to double down on live sports and keep Fox News as the centerpiece of the business.
What Does Fox Corporation Actually Own?
It's easy to get confused because the "Fox" name is still everywhere. Even though Disney owns the 20th Century Studios (the people who make the movies), they had to change the name to just "20th Century Studios" to avoid confusing people with the TV side.
Here is the breakdown of what the Murdoch-controlled Fox Corporation actually keeps in its portfolio:
- Fox Broadcasting Company: This is the "main" channel. The one with The Masked Singer, NFL games, and your local news.
- Fox News Media: This includes Fox News Channel and Fox Business Network. It’s the company's biggest money-maker.
- Fox Sports: They own FS1, FS2, and a big chunk of the Big Ten Network.
- Tubi: This was a genius move. They bought the free streaming service a few years back, and now it’s one of the most-watched platforms in the country.
- Fox Television Stations: They own 28 stations across the U.S. in places like New York, LA, and Chicago.
Basically, if it involves live TV, "must-see" events, or conservative-leaning news, the Murdochs still own it. If it’s a movie about blue aliens or a scripted show on FX, that’s Disney.
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The Role of Institutional Investors
While the Murdoch family has the "voting" power, they don't own 100% of the money. Fox Corporation is a public company traded on the Nasdaq (under the tickers FOX and FOXA).
Wall Street giants like Vanguard, BlackRock, and State Street own huge chunks of the company. These firms represent the 401(k)s and retirement funds of millions of regular people. They care about the stock price going up. They don't usually care about what’s on the air at 8 PM, as long as the advertisers are paying.
However, because of the "dual-class" stock structure, these big banks can’t just vote Lachlan out. The Murdoch Family Trust holds about 40% of the voting shares, which, in the world of corporate boardrooms, is basically a "get out of jail free" card.
Why the 2025 Settlement Mattered
The reason you’re seeing so much clarity about ownership now in 2026 is because of that Nevada court case in late 2025. Before that, the company was "rudderless" in the eyes of some investors.
The siblings were reportedly at odds over the political direction of Fox News. James Murdoch, for instance, has been pretty vocal about his disagreements with the network's tone. If James and the other siblings had won, Fox TV might look very different today. It might have moved toward the center or shifted its focus away from opinion-based news.
Instead, the settlement cemented Lachlan's vision. By buying out his siblings or restructuring the trust (the exact financial details of the multi-billion dollar deal were kept pretty quiet), he ensured that Fox would stay on its current path for the foreseeable future.
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Common Misconceptions About Fox Ownership
Let's clear some things up because the internet is full of bad info.
- Does Disney own Fox News? No. Never did, never will. Disney is a "family-friendly" brand (mostly) and avoided the news business like the plague during the merger.
- Does Fox own the Regional Sports Networks (RSN)? Nope. They used to, but as part of the Disney deal, those were sold off to Sinclair Broadcast Group (now Diamond Sports).
- Is Rupert Murdoch still the boss? Officially, no. He retired from the board in 2023. He’s 94 now. While he’s definitely still an advisor to his son, Lachlan is the boss on paper and in practice.
What This Means for You
Knowing who owns Fox TV isn't just for business nerds. It matters because it dictates what shows up on your screen.
Under Lachlan Murdoch, Fox has shifted away from expensive, scripted dramas (which they now often buy from other studios like Sony or Warner Bros.) and moved toward "unscripted" content. That’s why you see so many reality competitions and sports. It’s cheaper to produce and harder for people to skip the commercials.
Also, because the company is now smaller and more focused, it’s much more agile. While giants like Disney and Warner Bros. Discovery are struggling with billions of dollars in debt from their streaming services, Fox has kept its balance sheet relatively clean.
Actionable Takeaways:
- Check the ticker: if you’re looking to invest, remember there are two types of shares. FOX (Class B) has the voting rights, while FOXA (Class A) generally does not.
- Diversify your news: Since Fox News is a subsidiary of a corporation controlled by a single family trust, it’s always smart to compare their reporting with outlets owned by different structures (like the AP, which is a non-profit co-op).
- Watch Tubi: If you want to see where the company is putting its "growth" energy, look at Tubi. It’s the future of the company’s digital strategy.
The "Murdoch Empire" has changed, but it hasn't disappeared. It's just leaner, meaner, and—as of 2026—firmly under the control of the next generation.
To keep a pulse on how this ownership affects the media you consume, you should regularly check the SEC Form 4 filings for Fox Corporation. These documents show when Lachlan Murdoch or other insiders buy or sell stock, which is often a better indicator of the company's health than any press release. Additionally, following the quarterly earnings calls for FOXA will give you a direct look at whether their bet on live sports and Tubi is actually paying off in a world where traditional cable is slowly dying.