Fox and New York Times Thrive as US Ad Market Rebounds Beyond Expectations

Fox Corporation and The New York Times have both surpassed analyst expectations, as the US advertising market shows signs of a rebound amidst an improving economy. Fox, controlled by media mogul Rupert Murdoch, experienced a nearly 5% increase in shares due to the industry-wide uptick in advertising. US companies that had previously cut back on their marketing budgets are now looking to advertise again, encouraged by the hope of improving consumer sentiment as inflation begins to cool. Fox’s concentrated portfolio of news and sports puts it in a strong position compared to competitors with greater exposure to general entertainment, according to analysts.