Fox completes Tubi acquisition
Fox Corporation in the US has completed its acquisition of San Francisco-based AVoD service Tubi.
News of the deal was first announced in March, when Fox revealed the pair had inked a deal for approximately US$440m in cash, with a possible further US$50m payable over the next three years.
At that time, Fox said the acquisition was part of its strategic plan to broaden its direct-to-consumer digital reach and engagement.
Tubi is available on more than 25 digital platforms in the US and features more than 20,000 titles and 56,000 hours of film and TV programming from 250-plus content partners.
In a statement released on Monday, Fox said: “Fox Corporation today announced that it has completed its acquisition of Tubi Inc. The completion of the transaction follows the satisfaction of all customary closing conditions.”