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Fox Corp. has agreed to acquire the free, advertiser-supported streaming service Tubi for about $440 million in cash, the companies announced Tuesday.
The deal will give Fox, which owns the Fox broadcast and sports networks along with Fox News and its affiliated properties, a leg up in the ad-supported video-on-demand space, which could serve as a possible growth engine for the broadcaster as audiences move away from linear television.
“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,” Fox Corp.
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