Fox Completes Acquisition For AVOD Firm Tubi
Price tag is $440M
Fox said that it completed its purchase of ad supported streaming video company Tubi.
In March, Fox agreed to purchase Tubi for $440 million.
The deal is one of several in which media companies bought streaming services, which have been seeing a huge increase in usage with viewers at home because of the COVID-19 pandemic.
The rush was started by Viacom, which bought Pluto TV last year. Since then, Comcast agreed to acquire Xumo in February and, just today, Comcast also agreed to buy Vudu from WalMart.
Tubi is available on about 25 digital platforms in the U.S. and features 20,000 titles and 56,00 hours of film and television episodes.
At the time Tubi announced its agreement to sell, it said Fox’s relationships with advertisers and distributors would help Tubi continue to grow.
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Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.