🧐 ProPicks AI October update is out now! See which stocks made the listPick Stocks with AI

Fox announces new unit to house digital businesses

Published 04/26/2023, 02:17 PM
Updated 04/26/2023, 02:21 PM
© Reuters. FILE PHOTO: A security guard stands next to an entrance for the News Corporation building in New York City, U.S., April 25, 2023. REUTERS/Shannon Stapleton

(Reuters) - Media company Fox Corp on Wednesday said it would house its standalone digital businesses under a new unit, Tubi Media Group, along with its news, sports and entertainment digital platforms.

Fox's standalone digital businesses include free, ad-supported streaming platform Tubi, which Fox acquired in 2020; Tubi founder Farhad Massoudi will now step down as its chief executive officer.

Paul Cheesbrough, who previously served as technology chief and president of Fox's digital unit, will become the CEO of the new division, the company said.

The decision follows a string of events at Fox in recent weeks.

© Reuters. FILE PHOTO: A security guard stands next to an entrance for the News Corporation building in New York City, U.S., April 25, 2023. REUTERS/Shannon Stapleton

On Monday, Fox News Media and its top-rated host Tucker Carlson agreed to part ways, less than a week after parent Fox settled a defamation lawsuit in which Carlson played a central role, for $787.5 million.

Fox said Tubi Media Group will announce the new CEO for Tubi Streaming in the near future.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.