Fox said it has acquired celebrity news platform TMZ, as the company looks to expand in digital media and unscripted content
Terms of the deal weren’t released but TMZ is being valued at less than $50 million, people familiar with the matter said. The Wall Street Journal reported last month thatFox already has deep ties to TMZ, which owns a popular website and produces several TV shows. Fox local-television stations carry the TMZ shows “TMZ” and “TMZ Live.
Mr. Levin’s agreement with Warner Bros. was expiring and he wasn’t expected to stay on if the asset had remained there, a person close to the situation said.“TMZ has been an impactful program for our FOX television stations and broadcast partners for many years,” Lachlan Murdoch, Fox Corp.’s executive chairman and chief executive, said in a statement.
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