Fox Buys TMZ In Deal Valued at Less Than $50M

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Fox Buys TMZ In Deal Valued at Less Than $50M
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As AT&T's WarnerMedia sheds the asset, founder Harvey Levin has signed a multi-year deal with Fox and will keep overseeing day-to-day operations.

Levin will keep running the day-to-day operations of TMZ, and will report to Rob Wade, Fox Entertainment’s president of alternative entertainment and specials. Levin has signed a multi-year deal with Fox as part of the sale, according to someone familiar with the terms.

In addition to the digital brands and the TV shows, Fox will also operate the company’s tour bus business in Los Angeles. Fox’s in-house syndication arm, Fox First Run, will oversee sales for TMZ, and the company says it plans to “further market and monetize the TMZ brand across its station group; ad-supported streamer, Tubi; and other Fox-owned platforms.”

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