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bl8ant t1_j6dumdo wrote

Reply to comment by Slevinkellevra710 in Three seconds of audio could end up costing Fox $500,000 by blaspheminCapn

They make 100 million a week broadcasting nfl?

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GrowABrain3 t1_j6dvyvu wrote

Not just 100 million a week, 100 million in profit a week.

That's 5.2 billion dollars in profit per year.

So you should buy their stock.

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bl8ant t1_j6dxvxr wrote

Buy their stocks? The only thing I’ll ever give Fox is a Molotov cocktail.

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Due_Kaleidoscope7066 t1_j6dyixb wrote

When you buy their stock it's not really giving them money. Not directly anyhow. Unless they just happen to be the one selling the shares, but I think most companies are more interested in buying shares than selling right now (from my limited understanding).

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jawnyman t1_j6h9gka wrote

When you buy stock in Fox, it directly increases the net worth of the Murdoch Family Trust. Hard pass.

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Due_Kaleidoscope7066 t1_j6humzw wrote

I don’t think it does. Like, for example if I had 100 shares and was selling them and you bought them, you would be increasing my net worth. In a very indirect way you’re making the stock price go up (though likely a minuscule amount) and I guess that technically increases their net worth. But it only really matters if they’re selling stock after you affected the stock price.

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jawnyman t1_j6j4ioa wrote

If everyone sold their stock in Fox today it would greatly hurt the Murdoch family. They’d still have billions after selling a large position of the company, however.

Buying that stock is investing in the company and the Murdoch family. It justifies their advertising revenue and new developments and keeping the Murdochs in power. I’ve worked for the company before and I’ll never do it again. Maybe I’d work for the branch that Disney owns, but even that’s a stretch.

Rupert Murdoch is a sociopath and easily one of the worst influences on America still living today.

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Due_Kaleidoscope7066 t1_j6jff0i wrote

Definitely not arguing that the Murdoch family sucks. I guess I just don’t understand the ways in which stock price affects things like advertising revenue and new developments. Oh well, thanks for shining some light on that. :)

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nicoco3890 t1_j6glfej wrote

Dude, when you buy their stock, you force THEM to give YOU money via dividends. And you didn’t give them nothing, you just bought the stock from another trader.

Even better, if you and a band of other manages to buy 50.001% of the total stock, you are now majority shareholders and can reform Fox as the workers coop it always should have been.

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bl8ant t1_j6gxorj wrote

Keep dreaming’ kiddo. If you buy stock, you give them clout, you keep their brand alive, you justify their shit. And you’ll never get 50+% of a company like that, they are too important to the people spreading lies that keep the poor battling each other instead of coming for their heads.

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No-Investigator-1754 t1_j6kgeu9 wrote

Not saying they don't make a ludicrous amount of money off of it, but they don't broadcast NFL every week of the year, so it wouldn't be 100M * 52.

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resorcinarene t1_j6dw127 wrote

Something to learn from being on Reddit is people are loose in numbers if they are used for their purpose. $500,000 isn't enough, but it's not 0.5% of weekly profit. Most people here don't understand numbers in general

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Slevinkellevra710 t1_j6e1h0h wrote

Yes, i made a comment with inaccurate financial numbers on a reddit post. If you expected perfect accuracy and research in numbers, i really don't know what to do for you.
I'm not a journalist or expecting people to source my off-the-cuff reddit comment. However, let's actually do some math since you seem interested.
The latest contract fox signed with the NFL has them PAYING the NFL 2 billion dollars a year for the rights to broadcast. Let's assume 20 weeks of games with playoffs, etc. That means that FOX paid 100 million per week to the nfl. They wouldn't do that if it wasn't profitable. A 500k fine into that 100 million is literally 1/2 of a percent.
I realize i said profit and not revenue. However, the size of the revenues involved here absolutely validate my point, which was this:
A 500k fine for this kind of offense is similar to fining the average person $1. It makes absolutely no difference whatsoever, and it will deter exactly 0 people.

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resorcinarene t1_j6e20ep wrote

> Yes, i made a comment with inaccurate financial numbers on a reddit post. If you expected perfect accuracy and research in numbers, i really don't know what to do for you.

What makes you think I'm expecting anything from you? If anything, my comment serves to illustrate I know better than to expect accurate numbers from Reddit

> A 500k fine for this kind of offense is similar to fining the average person $1. It makes absolutely no difference whatsoever, and it will deter exactly 0 people.

So, you wrote all that because you think I'm disagreeing it's not enough when I also said this?

> $500,000 isn't enough...

I'm not really following what's motivating you lol

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KennyFulgencio t1_j6e3zws wrote

so he comes up with your numbers and this is your reply? you seem like a real prick

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resorcinarene t1_j6e6jka wrote

Wow, sorry your reading comprehension is limited. Dude stated this:

> Yes, i made a comment with inaccurate financial numbers on a reddit post.

That's what I said. His subsequent explanation was basically a justification of why he made up numbers. I agree that the penalty is too little, which was made clear by the following:

> $500,000 isn't enough...

Somehow, dude still replied to emphasize that his point was still valid because the numbers are large. Where did I disagree that $500K wasn't enough, again? I didn't.

Point is that neither you or numbers guy know how to read, or read too much into whatever I wrote. And yet somehow, I'm the one being harangued lol

Don't expect much from Reddit XD

edit: also, he didn't come with numbers. These are the actual numbers: https://investor.foxcorporation.com/reports/quarterly-reports

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Slevinkellevra710 t1_j6e24q7 wrote

They PAY the nfl 100 million a week, roughly, to have the broadcast rights. So, my number is probably inaccurate. Is it wrong enough to invalidate the point, though?

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