It was talked about last month and now it’s official, Fox Corporation (the non-Disney remains of Fox) has acquired the free ad-supported streaming platform Tubi in an agreement said to be valued at approximately $440 million. The transaction is expected to close before June 30th.
The service is currently available on more than 25 digital platforms in the U.S. and features over 20,000 titles and 56,000 hours of film and television programming from over 250 content partners including major studios.
Fox Corporation CEO Lachlan Murdoch says: “Tubi will immediately expand our direct-to-consumer audience and capabilities and will provide our advertising partners with more opportunities to reach audiences at scale. Importantly, coupled with the combined power of FOX’s existing networks, Tubi provides a substantial base from which we will drive long-term growth in the direct-to-consumer arena.”
FOX will continue to run Tubi as an independent service anchored by its consumer offering of licensed entertainment content. Expansion opportunities will be looked at shortly.
Source: Vital Thrills
