Tubi founder exits

 

Tubi founder and CEO Farhad Massoudi announced plans to exit his role and the Fox Corporation. Fox will incorporate Tubi into a new division -- the Tubi Media Group -- to be led by Paul Cheesbrough. More: Fox acquired Tubi in 2020 for $440 million. Tubi had around 25 million monthly average users at the time of the Fox acquisition; today, that number stands at around 64 million. Tubi has also become a significant revenue stream for Fox; viewing time was up 44% in 2022 over 2021. The newly-formed Tubi Media Group will also include more Fox digital companies, including Credible and Blockchain Creative Labs. VARIETY