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Fox Buys Ad-Supported Streaming Service Tubi in $440 Million Cash Deal

Y2kTheNewOldies

Y2kTheNewOldies

https://www.thewrap.com/fox-tubi-deal/


This is Fox inc. Ploy to go after companies like Pluto, Crackle for viewers.


Fox has acquired the ad-supported streaming service Tubi in a $440 million cash deal.

Tubi will remain as a separate company, with founder and CEO Farhad Massoudi staying on. The deal is expected to close by the end of June.



Tubi offers a wide selection of free shows and movies; the service, if you head to its homepage currently, highlights “The Last Samurai,” “Daddy Day Care,” and Gordon Ramsay’s “Hell’s Kitchen” among its most popular selections. The San Francisco-based Tubi will serve as a landing spot for Fox’s content, as well as provide a large audience for it to advertise new shows. Fox said it may look to expand Tubi’s content offering my adding its local news and sports events.
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https://www.fiercevideo.com/video/fox-buys-tubi-for-440-million


Update on the Fox/Tubi talks


Fox Corporation confirmed that it has entered into a definitive agreement to acquire ad-supported streamer Tubi for approximately $440 million.

The acquisition of Tubi, which the company expects to close before June 30, is intended to broaden and enhance Fox’s direct-to-consumer digital reach and engagement. Tubi has 25 million monthly active users who spend more than 160 million hours per month watching content on the service.

Fox said that Tubi will also integrate with and deepen its capabilities in areas including digital advertising, direct-to-consumer interfaces and personalization technology. Tubi will be able to fully use Fox’s advertising and distribution relationships along with its national and local promotional platforms.

Fox said it will continue to run Tubi as an independent service and that it will evaluate opportunities to expand the Tubi offering by potentially using Fox’s existing operations for national and local news, and sports programming.
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