Fox CEO Lachlan Murdoch attributed recent declines in Fox News ratings to audience fatigue during the company’s quarterly earnings call on Monday, November 2. He said the network faced a difficult comparison with last year’s viewing figures, even as CNN and MS NOW have recorded significant gains during the midterm election cycle.
Murdoch pointed to the intensity of the previous year’s news coverage as an explanation for the slowdown. He cited the inauguration, the Charlie Kirk tragedy, DOGE and flooding among the events that had occupied viewers’ attention. In his account, the audience had experienced an unusually heavy succession of major stories and was now spending less time watching television.
Describing the trend as “viewer fatigue,” Murdoch said Fox News viewers were not moving to competing news channels. Instead, he maintained that they were reducing their overall television viewing slightly. That distinction was central to his explanation of the ratings decline: he attributed the change to viewers’ habits rather than a shift in their choice of news network.
Murdoch compared the current situation with the 2006 midterm elections, when President George W. Bush was halfway through his second term. He said Fox had encountered a similar pattern before and knew how to respond. His remarks presented the recent weakness as a familiar challenge for the company as it works through the election cycle.
Despite the declines, Fox News continues to attract a larger audience than CNN and MS NOW combined. Murdoch joked that the two channels should not be described as Fox News’ peers because of the gap in their ratings. Fox instead prefers to measure the news channel against the four major broadcast networks.
The falling audience figures nevertheless remain a challenge for Fox and its news operation in the months ahead. Beyond the current midterms, the 2028 election cycle will bring a new slate of candidates into focus. Murdoch’s comments emphasized the company’s experience with earlier periods of weaker viewing as it faces the more immediate ratings pressure.
The midterms have also delivered advertising revenue across Fox’s businesses. Murdoch attributed about $50 million to the company’s national networks, alongside $250 million at its local stations and $50 million at Tubi. Competitive races across the country have made Fox a significant beneficiary of election advertising, even as Fox News’ audience figures have declined.
