Fox Corporation has created a new division that will house its standalone digital businesses and digital platforms and teams “that underpin FOX’s wider digital business in News, Sports and Entertainment.”
Introducing the Tubi Media Group, which will be led by a newly appointed CEO.
Chosen to lead TMG is Paul Cheesbrough.
He succeeds Farhad Massoudi, who will remain through a transition period until the end of June.
Tubi Media Group is comprised of fast-growing OTT platform Tubi, in addition to Credible and Blockchain Creative Labs.
“The creation of this division reflects the growing momentum of FOX’s digital businesses and will provide the necessary strategy, leadership and focus to take them to the next level,” Fox said.
Lachlan Murdoch, Executive Chair and Chief Executive Officer for Fox Corporation, explained that the company’s 2020 purchase of Tubi “established a cornerstone in our digital streaming strategy, which under Paul and Farhad’s leadership has driven record growth and is now the clear market leader in AVOD in the U.S. Building off this momentum, and complementing the strong growth being driven in our company wide digital revenues, now is the right time to bring these efforts together into a new business unit which will be tasked with spearheading our digital expansion and partnering with our brands to drive continued growth.”
Cheesbrough previously served as Chief Technology Officer and President of Digital for Fox Corporation, where he oversaw the acquisition and management of Tubi. He will continue to be based in Century City, and reports to Murdoch.
“We have incredible momentum across our digital portfolio at FOX and it’s a privilege to lead and oversee this next stage of growth,” Cheesbrough said. “With a strong foundation to build off, from Tubi’s unrivaled growth in the AVOD space to our record setting 4K streaming operation for Super Bowl LVII, I’m looking forward to working with our talented team to drive this growth for FOX.
Cheesbrough then thanked Massoudi “for his partnership over the past few years,” calling him “a true pioneer in the streaming space” who saw the opportunity in AVOD long before others. “The fact that we’re building this new business around Tubi’s brand and the momentum that the company has achieved is testament to everything that Farhad founded, built and delivered over the years,” he said.
Massoudi commented, “It has been an incredible three years since the acquisition of Tubi, leading to its great success within the FOX family. I am grateful to both Lachlan and Paul for their guidance, support, and partnership. I know that I am leaving Tubi in the best shape it has ever been, and its future is very bright.”
Tubi Media Group will announce the new CEO for Tubi Streaming in the near future.
