SEC Comment Letter 0000000000-24-002186 to Fox Corp (FOX, FOXA) (CIK 0001754301) (FOX)
Fox Corp (FOX, FOXA) (CIK 0001754301)
Date: Feb. 27, 2024 · CIK: 0001754301 · Accession: 0000000000-24-002186
AI Filing Summary & Sentiment
File numbers found in text: 001-38776
Letter
United States securities and exchange commission logo February 27, 2024 Steven Tomsic Chief Financial Officer Fox Corp 1211 Avenue of the Americas New York, New York 10036 Re:Fox Corp Form 10-K for the Fiscal Year Ended June 30, 2023 File No. 001-38776 Dear Steven Tomsic: We have reviewed your filing and have the following comments. Please respond to this letter within ten business days by providing the requested information or advise us as soon as possible when you will respond. If you do not believe a comment applies to your facts and circumstances, please tell us why in your response. After reviewing your response to this letter, we may have additional comments. Form 10-K for the Fiscal Year Ended June 30, 2023 Results of Operations, page 38 1.In your discussion, you cite multiple factors as impacting your results of operations but most often provide no quantification of the contribution of each factor to the material changes in the various line items discussed. Where one or more factors contributed to a material change in a line item, please describe the underlying reasons for these changes in quantitative and qualitative terms. We refer to guidance in Item 303(b) of Regulation S-K. Notes to the Consolidated Financial Statements Note 17. Segment Information, page 101 2.We note you have business unit leaders for Fox News Media, Fox Sports, Fox Entertainment, Fox Television Stations, and Tubi Media Group. Tell us how those business unit leaders align with your segment structure discussed on page 101. Disclose the factors used to identify your reportable segments, including whether operating segments have been aggregated. We refer to the guidance in ASC 280-10-50-21.
FirstName LastNameSteven Tomsic Comapany NameFox Corp February 27, 2024 Page 2 FirstName LastName Steven Tomsic Fox Corp February 27, 2024 Page 2 Note 20. Additional Financial Information, page 105 3.We note you reported legal settlement costs, an operating expense, within the income statement line-item "Other, net." Separately report operating and non-operating expenses on your income statement and clearly identify them as such, pursuant to Rule 5- 03 of Regulation S-X. We remind you that the company and its management are responsible for the accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or absence of action by the staff. Please contact Inessa Kessman at 202-551-3371 or Robert Littlepage at 202-551-3361 if you have questions regarding comments on the financial statements and related matters. Sincerely, Division of Corporation Finance Office of Technology
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United States securities and exchange commission logo
February 27, 2024
Steven Tomsic
Chief Financial Officer
Fox Corp
1211 Avenue of the Americas
New York, New York 10036
Re:Fox Corp
Form 10-K for the Fiscal Year Ended June 30, 2023
File No. 001-38776
Dear Steven Tomsic:
We have reviewed your filing and have the following comments.
Please respond to this letter within ten business days by providing the requested
information or advise us as soon as possible when you will respond. If you do not believe a
comment applies to your facts and circumstances, please tell us why in your response.
After reviewing your response to this letter, we may have additional comments.
Form 10-K for the Fiscal Year Ended June 30, 2023
Results of Operations, page 38
1.In your discussion, you cite multiple factors as impacting your results of operations but
most often provide no quantification of the contribution of each factor to the material
changes in the various line items discussed. Where one or more factors contributed to a
material change in a line item, please describe the underlying reasons for these changes in
quantitative and qualitative terms. We refer to guidance in Item 303(b) of Regulation S-K.
Notes to the Consolidated Financial Statements
Note 17. Segment Information, page 101
2.We note you have business unit leaders for Fox News Media, Fox Sports, Fox
Entertainment, Fox Television Stations, and Tubi Media Group. Tell us how those
business unit leaders align with your segment structure discussed on page 101. Disclose
the factors used to identify your reportable segments, including whether operating
segments have been aggregated. We refer to the guidance in ASC 280-10-50-21.
FirstName LastNameSteven Tomsic
Comapany NameFox Corp
February 27, 2024 Page 2
FirstName LastName
Steven Tomsic
Fox Corp
February 27, 2024
Page 2
Note 20. Additional Financial Information, page 105
3.We note you reported legal settlement costs, an operating expense, within the income
statement line-item "Other, net." Separately report operating and non-operating
expenses on your income statement and clearly identify them as such, pursuant to Rule 5-
03 of Regulation S-X.
We remind you that the company and its management are responsible for the accuracy
and adequacy of their disclosures, notwithstanding any review, comments, action or absence of
action by the staff.
Please contact Inessa Kessman at 202-551-3371 or Robert Littlepage at 202-551-3361 if
you have questions regarding comments on the financial statements and related matters.
Sincerely,
Division of Corporation Finance
Office of Technology