FOX has announced it is creating a new standalone digital business around streaming platform Tubi under newly appointed CEO, Paul Cheesbrough.
Tubi Media Group will incorporate Tubi, Credible and Blockchain Creative Labs, as well as the digital platforms and teams behind FOX’s digital businesses in News, Sports and Entertainment.
Farhad Massoudi, the founder and CEO of Tubi, is stepping down.
“Our strategic acquisition of Tubi in 2020 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 US,” said Lachlan Murdoch, Executive Chair and Chief Executive Officer, Fox Corporation.
Cheesbrough was previously CTO and President of Digital for Fox Corporation, where he oversaw the acquisition and management of Tubi. He’ll continue to be based in Los Angeles and report to Lachlan 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,” said Cheesbrough. “With a strong foundation to build off, from Tubi’s unrivalled 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.
Tubi Media Group will announce the new CEO for Tubi Streaming shortly, while Massoudi will remain through a transition period until the end of June.