Fox Corp.
FOX,
said it has acquired celebrity news platform TMZ from AT&T Inc.’s
T,
WarnerMedia unit, 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 that the companies were negotiating terms that would value TMZ at between $100 million and $125 million.
This post was originally published on Market Watch
