21st Fox picks up True[X]
Rupert Murdoch’s company is adding the video advertising company to its portfolio. Among its services is putting advertising on line for television companies, as well as other streaming and video services.
The company will operate as a standalone once the deal closes.
A Hollywood Reporter article on the transaction cited the Wall Street Journal’s report pegging the value of the deal at $200M.
In a release, Fox stated, “Founded in 2007, true[x] offers online publishers and advertisers a marketing platform for premium content in digital and on-demand environments. Following the acquisition, true[X] will remain a stand-alone business, and will continue to deliver platforms and services to a wide range of television clients, as well as streaming music and video companies such as Pandora and DramaFever, among others. On the marketing side, the Company’s client list includes many of the world’s top consumer brands, including Microsoft, Visa, Apple, Disney, Coca-Cola, Kia, Kraft, Macys, Nestle, and Procter & Gamble, among others.”
“The connections between brands and consumers have continued to evolve within digital video environments, and true[x] is at the center of this vital area of innovation,” said James Murdoch, Co-COO of 21st Century Fox. “We’re thrilled at the opportunity to have true[x]’s talented team work with us as we set out together to create new experiences in what we believe is a very exciting time in digital video.”
“At Fox, we are constantly working to create ad experiences that empower marketers to reach consumers in new and more effective ways,” said Randy Freer, President and COO of Fox Networks Group. “We are excited about the opportunities true[X] brings with respect to enhancing ad engagement for consumers on our networks’ digital platforms.”