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Fox Completes Acquisition for AVOD Firm Tubi

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 Monday, 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.