Fox to acquire Tubi TV for $440M

Fox has announced it will acquire the streaming service Tubi TV for about $440M in cash that it has raised by selling it’s ~5% stake in Roku.



“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.”
Rupert Murdoch, Fox CEO

The deal comes as content providers like Fox are seeing the need to adapt and shift towards streaming as cord-cutting is increasing pressure on traditional revenue streams.

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