Fox Business Network has acquired Tubi, the prominent free TV and movie streaming service, for $440.0 million. This corporate acquisition sees Fox Business Network taking ownership of Tubi, which is recognized as the most watched free TV and movie streaming service in the U.S. Tubi, part of the Tubi Media Group, a division of Fox Corporation, is dedicated to providing access to a vast array of stories, operating as a leading ad-supported video-on-demand service. It engages diverse audiences through a personalized experience and boasts a content library exceeding 275,000 movies and TV episodes, a growing collection of Tubi Originals, and nearly 250 FAST channels.
The strategic rationale behind this acquisition for Fox Business Network centers on expanding its digital footprint and diversifying its media offerings. By integrating Tubi's extensive content library and established user base, Fox Business Network aims to tap into the rapidly growing ad-supported streaming market. This move provides a significant platform for digital advertising revenue and allows the acquiring entity to reach a broader demographic beyond its traditional business news audience.
Expected synergies include leveraging Tubi's robust streaming technology and its strong position in the AVOD sector. The acquisition is anticipated to enable cross-promotion opportunities and enhance content distribution capabilities for both entities. Tubi's existing infrastructure and content partnerships are expected to complement Fox Business Network's strategic objectives, fostering growth in the competitive digital media landscape.
Looking ahead, the combined entity is positioned to deliver a more comprehensive range of content to a wider audience. This acquisition underscores a commitment to expanding digital presence and capitalizing on the evolving consumption habits of media viewers, reinforcing a strong presence in ad-supported streaming.