Fox reportedly rejects several $2bn-plus offers for AVoD platform Tubi

Tubi adult animation original The Freak Brothers

Fox has reportedly received big-money offers for its AVoD platform Tubi, with the media giant apparently rejecting multiple “unsolicited offers” that came in north of US$2bn.

That’s according to US business trade Bloomberg, which reported that Fox CEO Lachlan Murdoch wants to keep the fast-growing platform within the Fox empire. The report did not say which companies had made bids, or how recently they were made. A Tubi representative declined to comment.

The reported offers represent a huge mark-up from the US$440m Fox paid to acquire Tubi in the spring of 2020.

Tubi, which has a footprint in the US, Canada, Latin America, Australia and New Zealand, has a catalogue of more than 50,000 hours of series and movies. Over the past two years, the company has branched into original programming with a slate of movies, series and adult animations including The Freak Brothers. Its FAST offerings include more than 200 live news and sports channels.

The AVoD service recently inked a non-exclusive deal with Warner Bros Discovery that will see 14 Warner Bros-branded FAST channels launch via Tubi. The deal covers 225 titles and more than 2,000 hours of content.

Earlier this week, Fox reported that Tubi had more than 61 million monthly active users in November, up from 51 million in May. During its second-quarter financials, Fox also said Tubi’s ad revenue grew 25% to more than US$200m and that its overall viewing time was up 41% compared with the same quarter a year ago.