Fox Corporation has acquired Red Seat Ventures, which works with talent operating in the creator economy, with the venture set to sit within FOX’s Tubi Media Group.
With the deal, the financial terms of which were not disclosed, Paul Cheesbrough, CEO of Tubi Media Group, assumes the role of chairman of Red Seat Ventures. The business’s executive team, led by Chris Balfe and Kevin Balfe, will continue to operate Red Seat.
“The creator economy is one of the fastest growing media categories worldwide by measure of reach and influence, and consumers are increasingly looking to get their information, insights and entertainment directly from the voices and brands they trust across these platforms,” said Cheesbrough. “Working with two outstanding entrepreneurs like Chris and Kevin, we see tremendous opportunities to drive additional scale in genres such as sports, news and entertainment and look forward to supporting the continued growth of this business.”
Red Seat Ventures operates across podcasts, video and live events, including CrimeCon. “From the beginning, Red Seat Ventures has had the opportunity to work with some of the most influential creators in the world to grow their new media businesses and develop their personal brands,” said Chris Balfe, CEO. “In aligning with FOX, we will be able to build upon that investment and expand the services we provide to our creators, while continuing to maintain the independence and integrity of their brands, which is truly the best case scenario.”
