Fox Buys TMZ, Bolstering The Murdoch Family’s Gossip News Holdings

Fox Corp acquired the TMZ brand from WarnerMedia for an undisclosed price, strengthening the Murdoch family’s hold in the celebrity gossip business.

Under the terms of the agreement announced Monday, Fox will buy TMZ’s hit syndicated magazine programs, TMZ and TMZ LIVE; its dedicated sports site TMZ Sports and program TMZ SPORTS along with its celebrity tour operations in Los Angeles. Media reports peg the deal’s value at under $50 million.

TMZ will join other Murdoch celebrity-focused properties, including The U.K.’s Sun, Australia’s Daily Telegraph, and The New York Post. The Post’s Page Six section was a rival to TMZ for years. Fox pulled the plug on Page Six TV  in 2019 after two seasons. TMZ is now the go-to site for the mainstream media for salacious celebrity news.

As the Hollywood Reporter noted, Fox News FOXA , the Murdoch’s most profitable media property,

Keep reading this article on Forbes Business.

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