Fox closes $22 billion Roku deal; Tubi CEO Anjali Sud to exit
Fox has folded Roku, Tubi, Red Seat Ventures and other properties into a new digital division led by co-chairs Anthony Wood and Paul Cheesebrough.
Fox completed its $22 billion acquisition of Roku on Friday morning and placed the streaming and advertising businesses it now controls into a new digital division, according to Deadline.
The division houses Roku, Tubi, Red Seat Ventures and other properties, and is led by Co-Chairs Anthony Wood, Roku's founder, and Paul Cheesebrough.
Two senior executives will not make the move. Tubi CEO Anjali Sud is leaving for a role outside the company and will stay on to help with the transition, while Charlie Collier, who led Roku's ad and platform business, will not join Fox.
Pete Distad, the former Apple executive who spearheaded Fox One, will oversee Tubi and Roku subsidiary Frndly TV. Mike Bidgoli was promoted to president of Tubi and reports to Distad, and Lisa Holme, head of content for The Roku Channel, will also report to him. Mustafa Ozgen succeeds Wood as CEO of Roku.
Chris Handman, SVP and General Counsel at Roku, and Robyn Peterson, EVP of AdRise, are also exiting, while Andy Karofsky, co-founder and CEO of Frndly TV, joins Distad's group. Ad sales across the portfolio continue to report to Jeff Collins, President of Advertising Sales at Fox.
Town halls scheduled next week
Fox has planned town halls in San Jose and San Francisco on Monday, at the Fox lot and in Santa Monica on Tuesday, in Austin on Wednesday and in New York on Thursday. Collier, who became President of Roku Media in 2022 after serving as CEO of Fox Entertainment, had led Roku's ad and platform business for four years; Sud presided over Tubi's rise to the top of the free, ad-supported streaming sector.
Quick answers
Who will run Roku after Fox's acquisition?
Mustafa Ozgen succeeds Roku founder Anthony Wood as CEO of Roku. Wood becomes co-chair of Fox's new digital division alongside Paul Cheesebrough.
Is Tubi CEO Anjali Sud joining Fox?
No. Sud is leaving for a role outside the company and will stay on to help with the transition.
Who oversees Tubi now?
Pete Distad, the former Apple executive who spearheaded Fox One, oversees Tubi and Frndly TV. Mike Bidgoli was promoted to president of Tubi and reports to Distad.