Who Owns FX Networks?

FX Networks is a global entertainment television company based in Los Angeles, California. The network was established in 1994 by Fox Broadcasting. It offers cable channels, including FX, FXX, FX on Hulu, and FXM.

FXX targets young adults with acclaimed comedies and award-winning series. Consumers can access episodes aired on FX and FXX via FX on Hulu. FXM is the go-to network for movie lovers.

FX Networks distributes content across platforms, from TV to mobile apps and web-based channels. In Apr 2023, FX unveiled a new website with a bold content-first approach to enhance the personality of each show. The brand worked with creative company Elephant on a full-scale redesign to improve the user experience. [1]

FX Networks CEO John Landgraf coined “Peak TV,” a term for analyzing US-produced scripted original series. FX tallies new releases to visualize the state of the US TV production sector.

In 2023, the number of broadcast, cable, and streaming shows for adults was 516, down 14% from 600 comedies and dramas produced in 2022. The drop indicates that the Peak TV era is over. [2]

FX is the go-to destination for viewers seeking original content, including action, comedy, and drama series. Several FX’s long-running hits, like Snowfall, Mayans MC, What We Do in the Shadows, Reservation Dogs, Archer, and Dave, are ending.

As of Feb 2024, FX had 8,000 old TV episodes on its streaming platforms. FX’s Landgraf and his team are searching for new series to replace ended shows. But who owns FX Networks? [3]

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Who is FX Networks’ Parent Company?

FX Networks is a Disney Entertainment subsidiary owned by The Walt Disney Company. The Walt Disney is a multinational mass media and entertainment conglomerate founded in Oct 1923 and based in Burbank, California.

Disney revolutionized the animation industry with the 1928 short film Steamboat Willie, the first post-produced sound cartoon. In 2023, Disney laid off over 8,000 employees as part of its cost-cutting efforts. [4]

Disney started as a leader in animation and the House of Mickey Mouse. The parent company expanded its portfolio across the entertainment and sports sectors. Its iconic brands include FX, ABC, ABC News, Disney+, Disney Channels, Disney Digital, ESPN, ESPN+, Freeform, National Geographic, and Hulu.

In Q4 2024, Disney+ added nearly 7 million core subscribers. Its experiences division, including Disney Cruise Line, Disney Vacation Club, Disneyland Resort, and Walt Disney World, reported a 30% increase in operating income. [5]

Walt Disney operates through four business divisions – sports, parks and experiences, entertainment, and streaming. FX Networks is under Disney Entertainment. In Nov 2023, Disney CEO Bob Iger unveiled four strategic priorities for the company.

The CEO’s plan includes making the streaming business profitable, expanding its live experiences business, advancing ESPN to a digital future, and improving the output of Disney film studios. These goals will help improve returns and rebuild Disney to its former glory. [6]

One of Disney’s main challenges is the declining ratings of its linear TV networks, including FX. Its movie production house is underperforming and didn’t deliver any billion-dollar-plus blockbusters in 2023.

These issues are worsened by Disney’s crowded sandbox of intellectual property, which increases spending. In a CNBC interview, CEO Iger noted that FX Networks, ABC, National Geographic, and Freeform aren’t core to Disney. The CEO is considering selling FX and the other three brands as part of his plan to cut spending by $5.5 billion. [7]

Image Credit: Erik Mclean

FX Networks Ownership History

Fox Broadcasting established its fX unit in Nov 1993 and introduced the fX cable channel in Jun 1994. The parent company launched The Fox Movie Studio under fX and re-launched it as fXM (Movies from Fox).

In 2004, John Landgraf joined fX as president of entertainment. Then, he was promoted to president and general manager. He increased fX’s original series from two to 11 within 2 years. The growth prompted Fox to create an in-house production company, marking the birth of FX Networks.

FX Networks introduced two new series in 2006 and three dramas in 2007, including Dirt, The Riches, and Damages. By 2008, FX was available in 90.6 million US homes. Landgraf was promoted to CEO of FX Networks in Jun 2013 and launched FXX.

FX catered to viewers aged 25–54, while FXX targeted younger audiences. The company rebranded Fox Movie Channel to FXM to serve movie lovers. [8]

FX Networks’ ownership changed hands in 2017 after Rupert Murdoch sold all the non-Fox News assets of his media empire to Disney for $66 billion. Disney acquired 21^st Century Fox, including FX Networks, LLC.

FX, led by Landgraf, thrived under Disney and delivered hit shows like Family Guy, Bob’s Burgers, Atlanta, You’re The Worst, Justified, and Better Things. In Mar 2020, the parent company launched FX on Hulu to provide episodes aired on the linear FX cable network on Hulu the next day. [9]

Image Credit: Mahrous Houses

FX Networks’ Shareholder Structure

FX Networks is a subsidiary of Disney Entertainment, a Walt Disney division. Walt Disney is a public company trading on the NYSE under the DIS ticker symbol. As of Dec 2023, Disney had 1,850,043,026 Stock A shares with one vote. The company owns 19 million Stock A shares, while the remaining 1,821,556,148 are free-float. [10]

Disney’s shareholder structure has institutions, insiders, and individual investors. The parent company has 4,016 institutional investors. As of Dec 2023, Vanguard Group was Disney’s largest institutional shareholder, with 8.43%.

Blackrock is second with 6.68%, followed by State Street Corp at 4.17%, Morgan Stanley at 2.62%, Geode Capital at 1.96%, and Trian Fund Management at 1.77%. Other top players are State Farm Mutual at 1.73%, Northern Trust Corp at 1.18%, Norges Bank at 1.18%, and FMR LLC at 1.88%. [11]

Disney’s insiders own 0.07% of the company. CEO Bob Iger has served as Disney’s executive and board chairman. He is the company’s top insider shareholder. As of Apr 2024, Director Mark Parker had 25,625 shares, followed by James Gorman at 20,436, Mary Barra at 19,231, Safra Catz at 18,424, Francis De Souza at 16,662, Michael Froman at 15,843, and Derica Rice at 14,773. [12]

Walt Disney’s shareholder structure is well-balanced, with 70% spread between thousands of institutions and 30% held by the general public, including retail investors. This equilibrium ensures none of the shareholders have majority control over the company.

In Apr 2023, CEO Iger won a months-long proxy war against activist investor Nelson Peltz. Peltz owns and leads Trian Partners, Disney’s sixth-largest institutional shareholder. The investor wanted to oust two Disney board directors nominated by CEO Iger and Disney. However, other Disney shareholders rallied by CEO Iger and defeated Peltz. [13]

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