Who Owns CNN and Fox News?

We take a look at the ownership structures of two of the biggest news networks in the US – CNN and Fox News.

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CNN

CNN, or Cable News Network, is a news-based television channel owned by Turner Broadcasting System, a subsidiary of WarnerMedia. The channel was founded in 1980 by American media mogul Ted Turner.

Turner Broadcasting System

CNN, or Cable News Network, is an American news-based pay television channel owned by WarnerMedia News & Sports, a division of AT&T’s WarnerMedia. CNN was founded in 1980 by American media proprietor Ted Turner as a 24-hour cable news channel. Upon its launch, CNN was the first television channel to provide 24-hour news coverage, and was the first all-news television channel in the United States.

While the news channel has numerous affiliates, CNN primarily broadcasts from the Time Warner Center in New York City, and studios in Washington, D.C. and Los Angeles. Its headquarters at the CNN Center in Atlanta is only used for weekend programming. CNN is sometimes referred to as CNN/U.S. (or CNN Domestic) to distinguish the American channel from its international sister network, CNN International. As of August 2010, CNN is available in over 100 million U.S. households

AT&T

AT&T is an American telecommunications conglomerate, headquartered at Whitacre Tower in Downtown Dallas, Texas. AT&T is the second largest provider of mobile telephone and the largest provider of fixed telephone in the United States. AT&T is also the largest pay-TV provider in the United States. The company has 37 directories in 21 states and provides broadband internet to over 13 million customers.

Fox News

Fox News is an American basic cable and satellite news television channel that is owned by the Fox Entertainment Group subsidiary of 21st Century Fox. The channel broadcasts primarily from studios at 1211 Avenue of the Americas in New York City.

Fox Corporation

Fox Corporation is an American television broadcasting company headquartered in Midtown Manhattan, New York City, with additional offices in Los Angeles and Chicago. The company was formed from the merger of Fox Entertainment Group and 21st Century Fox on March 20, 2019. The “New Fox” corporation focuses mainly on the Fox Broadcasting Company network, the Fox News Channel, and the Fox Business Network.[1][2]

Rupert Murdoch is co-chairman and chief executive officer (CEO) of Fox Corporation,while Lachlan Murdoch is co-chairman[3] and executive chairman of the company (a position he also held at 21st Century Fox).[4][5]

On July 27, 2018, it was announced that The Walt Disney Company would acquire most of 21st Century Fox’s entertainment assets for $71.3 billion.[6][7] However, on June 27, 2019, Disney decided to sell the regional sports networks (RSNs) to Sinclair Broadcast Group for $9.6 billion so that their acquisition of 21st Century Fox could proceed without any antitrust concerns from the United States Department of Justice; as a result of this divestment, these RSNs were spun off into a separate company called Bally Sports.[8][9] On March 19, 2019 (one day before acquiring most of the other assets), Disney completed its acquisition of certain assets from 21st Century Fox; as a result of this acquisition (and subsequent divestitures), most of what remained of 20th/21st Century was renamed asFox Corporation.

Rupert Murdoch

In 1985, Rupert Murdoch bought Fox News for $250 million. Since then, the network has become one of the most-watched news channels in the United States. Murdoch is the chairman and CEO of Fox News’ parent company, 21st Century Fox.

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