Who Owns Tubi

Tubi is owned by Fox Corporation, the publicly traded media company controlled by the Murdoch family. Fox acquired the free streaming service in 2020 for $440 million.

Since changing hands, Tubi has grown from roughly 25 million users to over 100 million monthly active viewers as of mid-2025. The platform runs on an ad-supported model, letting users watch thousands of titles without a subscription. Tubi competes with free streaming options like The Roku Channel and Pluto TV while also pulling audiences from subscription services like Netflix.

In 2025, Tubi expanded into live sports with Premier League matches in Mexico and aired Super Bowl LIX. It has also pushed into original programming.

Who Owns Tubi?

Tubi is a wholly owned subsidiary of Fox Corporation. Fox bought the platform in 2020, paying $440 million in cash. The deal came after the 2019 Disney-Fox merger, which saw Walt Disney Company purchase 21st Century Fox’s entertainment assets. Fox Corporation retained its news, sports, and broadcast properties, and turned to Tubi to build a digital streaming presence.

Tubi operates under the Tubi Media Group, a division Fox created in April 2023. Paul Cheesbrough runs this division, and Tubi CEO Anjali Sud reports to him. Fox funded the acquisition partly through the sale of its Roku stake, which brought in close to $350 million.

Largest Shareholders of Tubi’s Parent Company, Fox Corporation

Tubi is not independently traded on any stock exchange, so its ownership flows entirely through Fox Corporation. Fox trades on NASDAQ under FOXA (Class A with voting rights) and FOX (Class B with limited voting rights).

The Murdoch Family Trust

The Murdoch Family Trust holds approximately 36% of Fox Corporation’s voting shares, giving the family effective control over corporate decisions. Lachlan Murdoch, son of media mogul Rupert Murdoch, serves as Executive Chair and CEO of Fox Corporation. Rupert Murdoch stepped back from active management in November 2023 and holds the title of Chairman Emeritus.

A Nevada probate court in December 2024 rejected Rupert Murdoch’s bid to consolidate voting rights within the trust. The trust’s structure, and its control over Fox and Tubi, remains unchanged.

The Vanguard Group

Vanguard oversees roughly $12 trillion in global assets. The firm holds about 7.5% of Fox Corporation’s Class A shares through index funds and ETFs. As a passive investor, Vanguard does not get involved in day-to-day management but appears as a top shareholder across major media companies, from those that own or compete with BlackRock to broadcasters and streaming services.

BlackRock

BlackRock owns around 5.5% of Fox Corporation’s Class A shares. As the world’s largest asset manager, BlackRock holds these shares primarily through iShares ETFs on behalf of clients. Like Vanguard, it does not participate in Fox’s operational decisions.

State Street Global Advisors

State Street rounds out the “Big Three” index fund managers with a sizable position in Fox Corporation through its SPDR ETF products. Like Vanguard and BlackRock, its investment is purely financial.

None of these institutional investors direct how Tubi or Fox Corporation operates. Strategic control rests with the Murdoch Family Trust and Fox’s executive team.

History of Tubi and Its Co-founders

Founding and Early Growth

Tubi was founded in 2014 by Farhad Massoudi and Thomas Ahn Hicks under the company name AdRise. Based in San Francisco, the platform launched as a free streaming service funded by advertising. The founders bet that a large audience existed for on-demand content without a monthly subscription. Early investors included Foundation Capital, Jump Capital, and Danhua Capital, with the company raising $20 million in a 2017 funding round.

Rapid Expansion and Fox Acquisition

Tubi grew quickly by licensing content from major studios. By 2019, it had over 20 million active users. That growth caught the attention of Fox Corporation, which was rebuilding its media portfolio after the Disney-Fox deal. Fox acquired Tubi in 2020 for $440 million. Massoudi stayed on as CEO until 2023, when Anjali Sud took over. Sud previously led Vimeo as CEO for six years, including taking that company public in 2021. Under her leadership, Tubi crossed 100 million monthly active users by June 2025.

Who Is on the Board of Directors for Fox Corporation (Tubi’s Parent)?

Tubi does not have its own independent board. Corporate governance flows through Fox Corporation’s board, which oversees all Fox subsidiaries including Tubi. The board includes media veterans, former government officials, and business executives.

Media and Entertainment Expertise

Lachlan Murdoch chairs the board and runs Fox Corporation as CEO. He was central to creating the company during the Disney transaction and has directed Fox’s strategy since 2019, including the Tubi acquisition. Rupert Murdoch, the media mogul who built the Fox media empire starting in the 1980s, retains the title of Chairman Emeritus. Chase Carey, who previously served as Chairman and CEO of Formula 1 and held senior roles at 21st Century Fox, brings deep experience in content distribution and global media.

Government and Public Policy

Paul Ryan, former Speaker of the U.S. House of Representatives, joined Fox’s board in March 2019. He currently works as a general partner at the private equity firm Solamere Capital. Tony Abbott, the former Prime Minister of Australia, was elected in November 2023. Both bring public policy experience relevant to a company operating news and broadcasting divisions alongside Tubi’s streaming platform.

Legal and Corporate Governance

William A. Burck is the Global Co-Managing Partner of Quinn Emanuel Urquhart & Sullivan and previously held senior White House positions under President George W. Bush. His legal and governance background adds oversight capacity as Fox expands Tubi’s content partnerships with companies like Warner Bros. Discovery.

Technology and Business Development

Peggy Johnson, elected in November 2023, served as CEO of Magic Leap from 2020 to 2023 and spent six years as EVP of Business Development at Microsoft. Her background is relevant as Tubi integrates with smart TV platforms through partnerships like its 2025 deal with Hisense. Roland A. Hernandez, founder of Hernandez Media Ventures and former CEO of Telemundo, adds experience in Spanish-language media and broadcast network management.

FAQs

Who owns Tubi in 2025?

Fox Corporation owns Tubi. It acquired the free streaming service in 2020 for $440 million and runs it as a wholly owned subsidiary under the Tubi Media Group.

Is Tubi owned by Netflix or Disney?

No. Tubi belongs to Fox Corporation, a separate publicly traded company. Disney and Netflix have no ownership stake in Tubi.

Who is the CEO of Tubi?

Anjali Sud has been CEO since September 2023. She previously led Vimeo and reports to Paul Cheesbrough, head of the Tubi Media Group at Fox Corporation.

How does Tubi make money if it is free?

Tubi earns revenue through advertising. Brands pay to run ads before and during content. In 2024, ad revenue exceeded $1 billion.

How many users does Tubi have?

Tubi reached 100 million monthly active users in June 2025, up from about 25 million when Fox acquired it in 2020.