Fox buys Tubi for $440 million as it attempts to join the streaming wars
Fox Corporation has acquired ad-supported streaming platform Tubi for $440 million, bringing more than 20,000 movies and shows to the platform.
Tubi, which partners with top-tier studios and networks to provide people with thousands of films and TV shows, currently has 25 million users. Fox Corporation, which is separate from 21st Century Fox (the part of the company Disney acquired in 2019 for $73 billion), doesn’t have its own popular streaming platform.
“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 in a press release. “Importantly, coupled with the combined power of FOX’s…