While being part of the Venu network may be out of reach for communications company Fox (FOXA) for now, there are still sporting events to be show, and advertising dollars to be made therein. Thus, Fox set up a new deal with LIV Golf, a move that gave it a fractional boost with investors in Thursday afternoon’s trading.
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CNBC noted that LIV Golf got together with Fox and set up a deal for Fox to air its League competition, which will start in February. As it turns out, this setup was a banner day for LIV Golf, as it comes just one day after it announced the installation of new CEO Scott O’Neil. As a result of the deal, LIV Golf will air on Fox, FS1, and a collection of individual Fox networks, along with both Fox Sports and LIV Golf+ apps.
The deal is hoped to improve LIV Golf’s reach, and given that not even 90,000 fans first picked up on individual championship play back in September, it will not be hard to make that needle budge. But with LIV Golf hosting tournament play in nine different countries, and coming off the less than enthusiastic reception it got on the CW Network, there is likely nowhere to go but up here.
Super Bowl Shuffle
That was not all the streaming plans for sports Fox had. A separate announcement noted that Fox plans to bring Super Bowl LIX to Tubi, its online streaming platform. A Variety report noted that this was a significant change of pace for Fox, who normally kept its sports streaming on Fox Sports digital operations.
But with Tubi rapidly gaining viewers at a time when even Fox outlets are struggling to keep subscribers—Tubi’s status as a free ad-supported television (FAST) operation likely does not hurt—moving this major event to a platform that already has substantial infrastructure in place may pay off. Better yet, viewers will be able to catch the stream in full 4K. No subscription is required, and the same ads that run on television will be had on Tubi as well, reports note.
Is FOXA a Good Stock to Buy?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on FOXA stock based on eight Buys and nine Holds assigned in the past three months, as indicated by the graphic below. After a 61.64% rally in its share price over the past year, the average FOXA price target of $48.40 per share implies 0.53% downside risk.
