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Fox completes acquisition of free video-streaming service Tubi

The companies announced the acquisition last month.

Tubi

Fox has acquired Tubi.

Getty Images

Fox on Monday said it has completed its acquisition of Tubi, a free video-streaming service, for around $440 million. The companies announced the acquisition last month.

Tubi is an ad-supported video streaming site with over 20,000 movies and TV shows. It works with more than 250 content partners, including Warner Bros. and Lionsgate. In February, the service said its monthly active users hit 25 million in December. Its total view time also increased 160% year over year, reaching more than 163 million hours watched, Tubi said. 

Fox has said it plans to keep running Tubi as an independent service. It will look into opportunities to expand Tubi "in a cost-effective manner by leveraging our expertise in national and local news and sports programming," the company said in a release last month. Tubi founder and CEO Farhad Massoudi will continue to lead the streaming service, according to the release.

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