Fox acquires Tubi TV and sells stakes in Roku

[iDJ]

Fox Corp. jumped into the direct-to-consumer arena, announcing an anticipated deal to acquire Tubi – a leader in the fast-growing free ad-supported streaming category – for about $440 million in net cash consideration. Fox said the deal underscores its “long-term strategic initiatives to broaden and enhance direct-to-consumer digital reach and engagement.”

It’s paying for the acquisition using cash from the sale of a minority stake in Roku.

Fox Buying Tubi For $440 Million, Using Cash From Sale Of Roku Stake