How to interpret the latest on Fox Sports’ Sorenson Communications
Fox Sports will have to rely on its own metrics to make sense of the new company’s first week of trading.
The company’s stock is up 1.6% in after-hours trading, while Fox’s is down 1.7%.
Sorenshons stock fell 5.2% in the last 12 months.
Fox is the third-largest cable television network in the U.S., behind ESPN and Fox Sports.
Sorenstons shares are up 9.9% in 2018.
The news comes as the FCC is weighing whether to approve the Comcast-Time Warner merger, a proposal that could be finalized this week.
Sorenson, which is also a unit of Cox Communications, is trying to make money by developing the technology for home-telephone broadband.
Comcast, meanwhile, is seeking to buy Time Warner for $45 billion, according to a Bloomberg report.