- Fox Corp. (NASDAQ:FOXA) turned down unsolicited offers of more than $2 billion for its Tubi streaming service.
- Fox CEO Lachlan Murdoch wants to keep the fast growing service even as the media conglomerate was offered over four times what it paid for Tubi a few years ago, according to a Bloomberg report, which cited people familiar.
- Fox (FOXA) acquired streaming video company Tubi for $440 million in August 2020. The Tubi report also comes after Rupert Murdoch last month scuttled his idea to reassemble his media empire, ending the proposal to re-merge News Corp. (NWS) with Fox (NASDAQ:FOX).
- Fox reported Q4 results on Wednesday.