21st Century Fox to Acquire Video Advertising Firm

NEW YORK: 21st Century Fox says it has reached a deal to acquire the video-advertising company true[X] media, whose client base includes the streaming platform DramaFever.

Financial terms of the transaction were not disclosed. Specializing in consumer engagement and on-demand marketing campaigns, true[X] media will remain a stand-alone business, working with platforms like DramaFever and Pandora as well as ad clients such as Microsoft, Visa, Apple and Disney. Fox Networks Group will work with true[X] media to enhance engagement between brands and viewers on its digital platforms.

“The connections between brands and consumers have continued to evolve within digital video environments, and true[x] is at the center of this vital area of innovation,” said James Murdoch, co-COO of 21st Century Fox. “We’re thrilled at the opportunity to have true[x]’s talented team work with us as we set out together to create new experiences in what we believe is a very exciting time in digital video.”

Randy Freer, president and COO of Fox Networks Group, added, “At Fox, we are constantly working to create ad experiences that empower marketers to reach consumers in new and more effective ways. We are excited about the opportunities true[X] brings with respect to enhancing ad engagement for consumers on our networks’ digital platforms.”

“This puts the true[X] team in an even better position to fulfill our vision and shape the digital video ad industry,” added Joe Marchese, founder of true[X] media. “As a creator and distributor of content, 21st Century Fox’s interests are very much aligned with our mission and vision to build technology to support a thriving digital video marketplace.”