In a move that signifies Rupert Murdoch's Fox's expansion into the podcasting arena, the company has acquired Red Seat Ventures, a network hosting well-known personalities. This acquisition will allow Red Seat Ventures to operate as a standalone unit under the Tubi Media Group umbrella.
Breitbart reported that the purchase includes a roster of high-profile talent, such as Tucker Carlson, Megyn Kelly, Piers Morgan, Dr. Phil, and Bill O'Reilly, all of whom are part of Red Seat Ventures' lineup.
The company currently features 17 creator-led shows and achieved over 200 million monthly views in November 2024. Ranked as one of the top 10 podcast networks in the United States, this acquisition underscores the network's existing influence and reach in the media landscape.
Paul Cheesbrough, the CEO of Tubi, is set to lead Red Seat Ventures through this transition. The company, however, will continue to maintain its operational independence within the broader framework of the Tubi Media Group.
"It will operate as a standalone entity," according to Deadline, reflecting Fox's commitment to preserving the distinguishing features that have fueled the network's success.
Red Seat Ventures is spearheaded by its founding partners Chris Balfe and Kevin Balfe, who expressed enthusiasm about the resources now available through Fox's acquisition.
They emphasized the importance of maintaining the independence and integrity of the brands within their network while expanding the scope of services offered to creators. The partnership with Fox is seen as a strategic move to further scale the business across popular genres like sports, news, and entertainment.
Cheesbrough highlighted the rapid growth of the creator economy, emphasizing its influence on audiences seeking authentic voices and trusted brands.
"The creator economy is one of the fastest-growing media categories worldwide by measure of reach and influence," he said. This acquisition places Fox in a favorable position to capitalize on these dynamics while fulfilling the increasing demand from consumers.
In response to concerns about Red Seat Ventures' autonomy, Megyn Kelly took to social media to assure followers of the network's independence. "We are 100% independent," Kelly wrote, clarifying the nature of the acquisition, which primarily affects the company responsible for advertising sales.
The presence of former Fox News talent, such as Tucker Carlson and Megyn Kelly, has been pivotal in elevating Red Seat Ventures within the podcasting domain.
Carlson and Kelly, once prominent figures on Fox News, have successfully transitioned to the podcast space, drawing in new audiences along the way. This has helped reinforce their brands, and they stand as key players within the Red Seat network.
The inclusion of diverse voices such as Piers Morgan and Dr. Phil further strengthens the network, catering to a wide variety of listener interests. Each host brings a unique perspective, enriching the content offered by the podcast platform while retaining individual authenticity. This diversity is crucial to maintaining the broad appeal that has characterized Red Seat Ventures’ programming lineup.
Upon announcement of the acquisition, Paul Cheesbrough and the team expressed optimism about future opportunities.
They see potential for growth and innovation, relying on Fox's infrastructure and resources. Cheesbrough remarked that collaboration with Chris and Kevin Balfe will yield significant benefits, especially in expanding reach and scaling operations.
Red Seat Ventures' acquisition by Fox not only marks a notable expansion for Tubi Media Group but also positions the podcast network for future success amidst a rapidly changing media landscape.
Chris Balfe noted that the support provided by Fox would enhance the services offered to creators. At the same time, the acquisition ensures that the network's independent spirit is upheld.
This autonomy is crucial for maintaining the trust and loyalty of the network's creator base, which has been pivotal to its growth. With the integration into Tubi Media Group, a focused approach on scaling operations through collaborations and innovative strategies is anticipated.
Through this acquisition, Rupert Murdoch's Fox continues to broaden its media holdings, further establishing its presence in the digital landscape. By capturing the unyielding growth of podcasts, the move signifies Fox's adaptability and commitment to engaging a diverse audience through cutting-edge platforms.
