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March 17, 2020, 5:16 p.m. EDT

Fox to acquire streaming service Tubi for $440 million

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By Jon Swartz

Fox Corp. /zigman2/quotes/209921865/composite FOX -0.84% /zigman2/quotes/207816609/composite FOXA -1.09% says it will buy Tubi, an ad-supported free streaming service, for $440 million. Fox is selling its 5% stake in Roku Inc. to finance the transaction. Tubi features more than 20,000 titles and 56,000 hours of film and episodic television programming from more than 250 content partners. The deal comes amid a surge of activity in the ad-supported streaming space. Last year, Viacom (now ViacomCBS Inc. /zigman2/quotes/206702514/composite VIACA +1.21% ) acquired free-streamer Pluto TV for $340 million in cash. Fox shares are down 1% in extended trading Tuesday.

/zigman2/quotes/209921865/composite
US : U.S.: Nasdaq
$ 24.68
-0.21 -0.84%
Volume: 1.49M
Aug. 10, 2020 4:00p
P/E Ratio
11.54
Dividend Yield
1.86%
Market Cap
$14.95 billion
Rev. per Employee
N/A
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/zigman2/quotes/207816609/composite
US : U.S.: Nasdaq
$ 24.40
-0.27 -1.09%
Volume: 9.87M
Aug. 10, 2020 4:00p
P/E Ratio
11.41
Dividend Yield
1.89%
Market Cap
$14.95 billion
Rev. per Employee
N/A
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/zigman2/quotes/206702514/composite
US : U.S.: Nasdaq
$ 28.35
+0.34 +1.21%
Volume: 118,437
Aug. 10, 2020 4:00p
P/E Ratio
13.86
Dividend Yield
3.39%
Market Cap
$16.22 billion
Rev. per Employee
$867,543
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