Fox announces new unit to house digital businesses

FILE PHOTO: A security guard stands next to an entrance for the News Corporation building in New York City

(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.

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.

(Reporting by Eva Mathews in Bengaluru; Editing by Pooja Desai)