Home Business Fox acquires gossip tabloid TMZ for $ 50 million

Fox acquires gossip tabloid TMZ for $ 50 million

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Fox has decided to invest in gossip and has secured for $ 50 million Tmz, a website and channel known for the timeliness of celebrity news.

The news and entertainment brand was owned by WarnerMedia, which also owns CNN. But WarnerMedia’s parent company AT&T is shedding some assets both to pay off its debt and to pave the way for 5G investments and has therefore decided to sell the brand.

“The unique and powerful brand Harvey created at TMZ has changed the entertainment industry forever and we are thrilled to welcome him to Fox,” said Fox Corporation Executive President and CEO Lachlan Murdoch. Fox will operate all of Tmz’s channels including its programs, Tmz and Tmz Live, which already air on 18 affiliate networks owned by Fox Television Stations.

Over the years, the company has gained notoriety for its scoops: for example, it was the first publishing company to report the deaths of Michael Jackson and Prince, as well as Mel Gibson’s anti-Semitic outburst. After a few years of innovation, she then focused on TV and video. Tmz will now be owned by Rupert Murdoch, who is revolutionizing journalism a bit with his newspapers such as the New York Post, Britain’s The Sun and Australia’s Daily Telegraph.

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