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The Fox News Channel, abbreviated FNC, commonly known as Fox News, and stylized in all caps, is an American multinational conservative cable news television channel based in New York City. It is owned by Fox News Media, which itself is owned by the Fox Corporation. The channel broadcasts primarily from studios at 1211 Avenue of the Americas in Midtown Manhattan. Fox News provides service to 86 countries and overseas territories worldwide, with international broadcasts featuring Fox Extra segments during ad breaks.
Main article: History of Fox News
In May 1985, Australian publisher Rupert Murdoch announced that he and American industrialist and philanthropist Marvin Davis intended to develop “a network of independent stations as a fourth marketing force” to compete directly with CBS, NBC, and ABC through the purchase of six television stations owned by Metromedia. In July 1985, 20th Century Fox announced Murdoch had completed his purchase of 50% of Fox Filmed Entertainment, the parent company of 20th Century Fox Film Corporation. A year later, 20th Century Fox earned $5.6 million in its fiscal third period ended May 31, 1986, in contrast to a loss of $55.8 million in the third period of the previous year.