The leading digital media company Fox Corporation agreed to acquire Tubi, for approximately $440 million. Tubi is a leader in fast-growing free ad-supported streaming category. The deal with Tubi underscores Fox’s long-term strategic initiatives to broaden and enhance Fox’s direct-to-consumer digital reach and engagement.
With the acquisition of Tubi, Fox will increase its consumer base with a sizable, younger-skewing and directly connected user base that spends over 160 million hours per month watching content on the service. Tubi, at present available on about 25 digital platforms in the United States, features more than 20,000 titles and 56,000 hours of film and episodic television programming from over 250 content partners, including many of the major studios. Tubi will deepen Fox’s capabilities in key areas such as digital advertising, direct-to-consumer interfaces and personalization technology.
In February 2020, Fox Corporation began talks to acquire Tubi. It was founded in 2010 as AdRise, a video ad-tech startup. The company launched Tubi TV in 2014 and eventually changed its name and focus to ad-supported VOD. The company offers 20,000 library movies and TV series — all for free with ads from over 250 content partners, including Lionsgate, Warner Bros., Paramount, and NBCUniversal.
Earlier, in November 2019, Fox Corporation announced an agreement with Nexstar Media Group to acquire three television stations for approximately $350 million. The transaction expands Fox Television Stations’ market presence to 14 of the top 15 DMAs.
In October 2019, Fox Corporation announced that it had completed its acquisition of 67% of the equity of Credible Labs Inc.
About Fox Corporation
Fox Corporation, headquartered in Midtown Manhattan, New York City, the USA, is a leading news media company. The corporation’s business comprises Fox Broadcasting and local TV stations, Fox News and Fox Business, and Fox Sports. FOX News has held its number one national cable news network status for 17 consecutive years in the USA. FOX Business Network has been the most-watched national financial channel for more than two years in business day viewership.