Fox Corporation is undervalued due to market underappreciation of its Cable and Tubi assets.

Fox Corporation is currently undervalued because the market views it as a single mixed media company rather than recognizing the distinct value of its stronger segments, particularly its Cable earnings and the streaming service Tubi. A sum-of-the-parts analysis shows these assets support a valuation higher than the current share price. While share buybacks contribute to value, the main upside comes from better market recognition of these core businesses. This suggests potential investment opportunity as the market adjusts its valuation approach.