Fenwick Represents Tubi in $440M Acquisition by Fox Corporation

Fenwick & West is representing Tubi, a leader in the fast-growing free ad-supported streaming category, in its definitive agreement to be acquired by Fox Corporation for approximately $440 million in net cash consideration at closing. The transaction, which is subject to regulatory approvals and the satisfaction or waiver of customary closing conditions, is expected to close before June 30, 2020.

Tubi brings to FOX an expanded consumer offering with a sizable, younger-skewing and directly connected user base that spends over 160 million hours per month watching content on the service. More information about the acquisition can be obtained from the company announcement.

The Fenwick transaction team includes corporate partners Kris Withrow, Mark Stevens and Ryan Slunaker and associates Maureen Montgomery, Meredith Evancie, Michael Ohta and R. Harrison Dilday; executive compensation and employee benefits partner Marshall Mort and associates Jonathan Stephenson and Corinne Nhaissi; employment practices counsel Matthew Damm; technology transactions counsel Christopher Joslyn and associate Shizuka Tiernan; antitrust & trade regulation partner Mark Ostrau and counsel Ashley Walter; privacy and cybersecurity partner James Koenig and director Brent Hoard; and tax partner William Skinner and associates Ora Grinberg and Kris Hatch.