FOX - Fox creates Tubi Media Group to hold stand-alone digital units
2023-04-26 15:46:43 ET
- Fox ( NASDAQ: FOX ) ( NASDAQ: FOXA ) has restructured its free ad-supported streaming effort into a new unit.
- The company established the Tubi Media Group to encapsulate its FAST channel Tubi as well as its stand-alone digital businesses, including Credible and Blockchain Creative Labs.
- The group will be placed under the leadership of Paul Cheesbrough as its chief executive; he'll report to Fox CEO Lachlan Murdoch.
- Cheesbrough had been chief technology officer and president of Digital for Fox.
- Tubi CEO Farhad Massoudi is stepping down and will remain in a transition role until the end of June.
- "Our strategic acquisition of Tubi in 2020 established a cornerstone in our digital streaming strategy, which under Paul and Farhad's leadership has driven record growth and is now the clear market leader in AVOD in the US," Murdoch said.
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Fox creates Tubi Media Group to hold stand-alone digital units