Fox Corporation

RATING

SECTOR

Media

WEBSITE

CONTACT

1211 Avenue of the Americas,
New York City,
New York,
U.S.

STOCK EXCHANGE

LISTING

  • Human Rights Campaign Foundation’s 2020 Corporate Equality Index (CEI) – Best place to work for LGBTQ Equality
  • Top Employer: EOE Journal, HISPANIC Network Magazine, Professional WOMAN’s Magazine, and U.S. Veterans Magazine
  • Great place to work certified – 2020



EMPLOYEES

7,700

CHIEF SUSTAINABILITY OFFICER

Vijay Sudan (at Walt Disney)

AWARDS

N/A

CONTENT SOURCE

FURTHER READING

Report created by Katerina Vargova

FOX Corporation

SECTIONS :  Sustainability    Evaluation  •  Progress  •  Watch  •  Overview

Company Activity

Fox Corporation (abbreviated Fox Corp.; simply called Fox) is an American mass media company headquartered in Midtown Manhattan, New York City. The company was formed in 2019 as a result of the acquisition of 21st Century Fox by The Walt Disney Company.

Under the FOX banner, they produce and distribute content through some of the world’s leading and most valued brands, including FOX News, FOX Sports, the FOX Network, and the FOX Television Stations. According to Fox, they empower a diverse range of creators to imagine and develop culturally significant content, while building an organization that thrives on creative ideas, operational expertise and strategic thinking.

The FOX Network is a premier national television broadcast network, renowned for disrupting legacy broadcasters with powerful sports programming and appealing primetime entertainment. The FOX Network’s primetime entertainment lineup accounted for seven of the 2017-2018 broadcast season’s top 20 new broadcast entertainment series.

Recently, groundbreaking and innovative shows including 9-1-1, Last Man Standing, The Masked Singer and Empire as well as the addition of NFL Thursday Night Football helped earn FOX the distinction as the only major network to post year-over-year rating growth during the fall 2018-2019 broadcast season. Fox remains focused on delivering the highest-quality and most engaging scripted and unscripted content.

FOX Television Stations owns and operates 29 full-power broadcast television stations in the U.S. These stations distribute sports, entertainment and syndicated content, and collectively produce nearly 1,000 hours of local news every week. These stations leverage viewer, distributor and advertiser demand for the FOX Network’s national content.

The breadth and depth of their footprint allow them to produce and distribute content that engages and informs audiences, develops deeper consumer relationships and creates more compelling product offerings.

They have long been a leader in news, sports and entertainment programming, achieving strong revenue growth and profitability in a complex industry environment over the past several years. FOX continues to invest across their businesses, allocate resources toward investments in higher growth initiatives and take advantage of strategic opportunities, including potential acquisitions across the range of the media categories in which they operate.

Company Sustainability Activity

Fox is dedicated to building a better future for the FOX Family as well as the country, states, and communities they serve. Their FOX Forward initiative addresses issues affecting neighbourhoods across the country, utilizing their resources and platforms to support causes impacting their stakeholders and bringing attention to the voices of those in need.

Fox’s employees, stations and news footprint around the United States, and its leading entertainment and sports networks work in harmony to touch millions of people in a way that improves their lives while creating value for both society and their business. 

Highlights

  • Participation in the American Corporate Partners Veterans Mentorship program
  • In November 2019, FOX Nation’s inaugural Patriot Awards raised over $60,000 for the charity
  • Since its inception in 2008, FOX Sports Supports has collaborated with more than 50 non-profit organizations and contributed millions of dollars of support to its partners, making it an industry leader in raising awareness for causes associated with youth development, education, and the military.
  • In Miami, FOX Sports Supports sponsored a coral reef ecosystem restoration project called 100 YARDS OF HOPE.
  • Of Fox’s U.S. full-time workforce in 2020, 40% identified as female and 32% identified as persons of colour. Fox’s recent hiring activity bolstered workplace diversity, as 45% of Fox’s Calendar Year 2019 hires were female and 35% were persons of colour.
  • Since the 2018 World Series, more than 200,000 single-use water bottles have been reduced on remote broadcasts
  • FOX Sports offset all emissions related to operations and business travel during Super Bowl LIV by purchasing 1,154 MT of carbon offsets.
  • The Bevi water filtration systems at Fox Sports headquarters have served nearly 50,000 gallons of water, eliminating more than 350,000 water bottles from landfills. 
  • Fox claims that it has achieved a waste diversion rate of 75% from landfill in the year 2019.

Targets

  • Fox set a goal to pursue ISO 14001 certification in the calendar year 2020 and to disclose environmental data to the CDP by the calendar year 2022.
  • Commuter programs, including the installation of 40 EV chargers with 67 charging ports available for employee and visitor use at the FOX Studio Lot.

Progress

  • Fox developed and implemented a comprehensive Environmental, Health, and Safety (EHS) program.
  • Fox has joined the Sustainable Production Alliance (SPA), a collaboration among the major studios housed under the Producers Guild of America (PGA) as part of the PGA Green program.
  • LED retrofits were implemented at a few of Fox’s Television stations.

Certificates

N/A

UN Sustainable Development Goals

UN SDGs Compliance

SDG 2

  • Fox Forward launched a nationwide Holiday Campaign to provide support to local communities and nonprofit organization
  • Fox’s employees participated in Move for Hunger and collected 85,000 pounds of food for local food banks
  • Donated 9.5 tons of unserved, prepared food from Fox Studio Lot to local food banks and nonprofit organizations 
  • Fox Giving donation program inspires, encourages, and supports employees to give back to their communities and support their personal passions. Over $1 million was donated through the program.

SDG 4

  • FOX 5 in Washington DC partnered with the Washington Teachers’ Union to air lessons for
    students who do not have access to laptops or Wi-Fi during school closures due to the
    coronavirus pandemic. The program, “Learning Doesn’t Stop—Lessons on TV,” ran every weekday and was promoted throughout the morning news program that preceded it.
  • FOX 26 in Houston assisted the Houston Independent School District to air “Classes@Home” Education segments.
  • eLearning – Fox offers online, on-demand training courses to all FOX employees

SDG 5

  • Women@FOX – committed to developing female leadership at all levels and fostering a culture where all women thrive.
  • WiT (Women in Tech) – attracts, advances, and empowers women technologists, and amplifies their impact at FOX.
  • Women of FOX Sports – connects, inspires, informs and gives back to the community, with the goal of furthering women’s collective contributions and advancement within the sports industry.
  • At the manager level, 47% are female and 33% are persons of colour.

SDG 8

  • Fox is investing in its people through competitive pay and benefits, flexibility and support to balance work and personal demands, Employee Resource Groups, and extensive professional and personal learning & development programs.
  • Fox’s workplaces have lactation rooms for new mothers to utilize. Parental leave policy allows new parents to bond with their children for a substantial period with full pay. Fox offers backup child, adult, and eldercare, as well as return to work care.
  • Fox adheres to the National Labor Relations Act (NLRA). The NLRA and the subsequent Taft Hartley Amendments protect the rights of employees and employers in the private sector.

SDG 10

  • Fox invests in Latino Business Action Network and the Stanford Latino Entrepreneurship Initiative unleashes the economic earning potential of Latino entrepreneurs by understanding and addressing structural impediments to scaling their businesses, and by identifying and analyzing the opportunities and national economic implications of Latino business development.
  • Fox received a 100% score in the Human Rights Campaign Foundation’s 2020 Corporate
    Equality Index (CEI)
  • Fox has a diverse and inclusive workplace which is not merely a strategy or business objective, it is fundamentally woven in the fabric of the company
  • For 10 years, Fox (and its predecessor companies) has participated in the American Corporate Partners Veterans Mentorship Program

SDG 13

  • Fox’s leftover materials, food, and equipment are donated to local organizations whenever possible
  • Since the 2018 World Series, more than 200,000 single-use water bottles have been reduced on remote broadcasts
  • FOX Sports offset all emissions related to operations and business travel during Super Bowl LIV by purchasing 1,154 MT of carbon offsets
  • FOX Sports distributed branded reusable water bottles to all employees and installed Bevi filtration systems to reduce the use of plastic water bottles
  • Implementation of Environmental and Energy Management (EEM) software to manage energy and GHG emissions across the company’s portfolio of facilities
  • Utilization of alternative fuel and power on remote broadcasts to reduce dependence on diesel generators
  •  Investments in solar power generation capacity
  • Constructing new buildings to LEED certified standards
  • Implemented a number of waste management initiatives, helping to achieve the 2019 diversion rate of 75%

SDG 17

  • Fox is a partner with leading non-profit organizations to assist proactively with important causes such as disaster relief, honouring the men and women who served in the military, and nurturing the next generation of business entrepreneurs and leaders.
  • FOX has joined the Sustainable Production Alliance (SPA), a collaboration among the major studios housed under the Producers Guild of America (PGA) as part of the PGA Green program
  • Fox sponsors the American Red Cross Annual Disaster Giving Program

Secondary SDGs: 6

Evaluation

Fox Corporation despite its size and footprint, made little progress in their sustainability. Fox achieved and is continuously striving for diversity in its workforce. Apart from that, they neither have any certifications or labels listed, nor any targets or metrics to track their progress.

Fox is implicitly compliant with some of the UN SDGs which shows a little involvement with achieving a sustainable future. With several television broadcasting stations across the country and huge operational footprint, Fox can do better as one of the leading media companies.

Therefore, Fox Corporation was rated D.

Analyst Outlook: Neutral

Fox did start initiatives to obtain certifications like LEED, ISO 14001. Fox will benefit from implementing clear key performance indicators, targets and metrics, leading to a higher rating in the future. For now, the outlook is neutral. 

Key Points

  • Given the sheer size of their network, their progress towards sustainability is very low
  • Commited to obtain certifications (LEED, ISO 14001)
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