Fox to Acquire Tubi for $440 Million

Fox Corporation announced this week that it will acquire the ad-supported Tubi streaming video service for $440 million.

“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,” Fox CEO Lachlan Murdoch said of the purchase. “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.”

For those unfamiliar, Fox Corporation is the company that was left over in the wake of Disney’s 2019 acquisition of 20th Century Fox. Its remaining assets include Fox Business, Fox Sports, and a few other networks.

Tubi, meanwhile, launched its ad-supported Tubi TV streaming service in 2014 and was backed by investments from Lionsgate, MGM, and several other companies. The service offers a library of over 20,000 on-demand movies and TV series from content makers like Lionsgate, NBCUniversal, Paramount, and Warner Bros. The firm announced in February that 2019 had been its most successful year yet, with explosive viewership growth and over 25 million month active users.

Tubi is available on Amazon Fire TV, Apple TV, Roku, many smart TVs, smart displays, Android and iOS, and the web. You can learn more at Tubi.tv.