The new Fox News has been hailed as a success.
Its main brand has risen from “the most trusted brand in the world” to a multi-billion dollar media empire, with a network that can attract millions of viewers on a global scale.
But some analysts are raising concerns about the future of its long-held model of news: “Fox News is at the top of the pyramid, but its brand is not as stable as it could be,” says Matthew Gaffney, a former senior editor of the New York Times who now leads the New America Foundation.
“If it’s not a brand that can sustain itself and its brand as it goes, there will be a lot of changes.”
The New Fox, in particular, is being watched closely by media executives, who are trying to decide whether to join the “Fox Empire”, the US media empire that owns Fox News, the Wall Street Journal, the Daily Mail and other major US newspapers.
Fox’s chief executive, Roger Ailes, was ousted from his post in August after allegations that he sexually harassed several women, including one who said he had raped her in 2002.
Fox has been criticised for its heavy reliance on “buzz” and “trending”, which are not always backed by hard data.
The network’s dominance of US cable news has helped it attract large audiences in a country that has long been home to a more sceptical, opinionated, conservative culture.
But in recent years, its audience has shrunk.
Its audience share has fallen from 16% to just 10% in the US in 2016, and it now has less than a fifth of all cable news viewers.
The networks decline is the latest in a string of scandals.
Its chief executive was ousted over allegations that his company paid out $60m to settle sexual harassment allegations, and the network has faced mounting pressure to improve its workplace culture.
Fox also faces accusations of its bias against women.
“Fox is in a very bad spot,” says Dan Ariely, a professor of media and media studies at New York University.
“It’s trying to balance the desire to have a stable and stable brand with the need to remain relevant and attractive to a growing audience.
But it’s also trying to maintain a strong relationship with its advertisers, which is a difficult balance.”
Fox has taken steps to address these challenges, but they have only so much time.
Fox News is one of several US cable TV networks that are owned by 21st Century Fox, a major US media conglomerate that also owns Fox Sports, Fox Business, Fox Sports 1 and other TV channels.
The Murdochs have been trying to move Fox News into the 21st century by building a new network of news brands that would have a broader reach.
Fox, which has a global audience of more than 5 billion people, is seen as having a key role in shaping the news that is shared by Americans, and is seen by many media executives as a valuable strategic asset.
The Fox brand has been around since at least the 1920s.
It was born out of the 1930s newsprint business, which produced newspapers that were cheaper and more reliable than newspapers in print.
But as American newspapers switched to print in the 1960s and 1970s, Fox lost its lead.
Fox was the biggest player in the industry by 2020, but it is now seen as one of the most stable.
Its stable brand has helped Fox become a global media force, even as it faces intense scrutiny over allegations of sexual harassment and violence.
But its brand also has been subject to the erosion of its relevance in the past decade.
A recent survey by the Pew Research Centre found that more than half of Fox viewers had no faith in the network’s news coverage, with nearly half saying it was “untrustworthy”.
Fox is currently trying to improve that, which began with the creation of a new “mainstream” channel, Newsmax, which aims to be a more “traditional” version of Fox News.
But Fox’s news channel is far from a guarantee of a stable Fox brand.
And some observers are raising fears about the long-term future of the Fox empire.
“This is a model that has a great deal of potential to be successful, but has been so dependent on the ability of Fox to maintain its brand that it’s in a difficult position,” says Mr Gaffneys.
The question now is whether Fox can continue to maintain the brand and its global reach, or whether the “tremendous opportunities and opportunities it has in the news and culture industries will be taken away by competition.”