Fox Corporation purchased ad-supported streaming platform Tubi for $440 million. Fox is also bringing more than 20,000 movies and shows to the streaming platform.
Tubi is a very popular streaming platform with 25 million users. Tubi is also has popular studio partners. Tubi is providing thousands of films and TV shows to its users. Fox Corporation closed $440 million dollar deal with Tubi officials.
Fox CEO Lachlan Murdoch said: “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.”