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Fox Closes Purchase Of Tubi In Day Of Streaming Deals

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deadline.com
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By Jill Goldsmith Fox Corp. said Monday it’s completed the acquisition of Tubi announced March 17 for $440 million. The news comes the same day Comcast’s NBCUniversal announced the acquisition of streaming platform Vudu from Walmart by its Fandango movie ticketing division.

Fox Corp. paid for Tubi with cash it raised from the sale of its minority stake in Roku, buying itself a foothold in the free, ad-supported, DTC arena.

It said the deal was a strategic move to “broaden and enhance direct-to-consumer digital reach and engagement.” Until Tubi, Fox had largely sat out the streaming dance that’s beckoned other major entertainment names from Disney to AT&T/WarnerMedia to Comcast.

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