LOS ANGELES—Fox Corporation is making a major investment in the podcasting and streaming space with the acquisition of Red Seat Ventures, a major platform that provides tech, marketing and support for such clients as Tucker Carlson, Nancy Grace, Megyn Kelly, Dr. Phil, Bill O’Rielly, Piers Morgan and others.
Across their 17 creator-led shows, Red Seat Ventures properties cumulatively drove over 200 million monthly active views in November 2024. It is a top 10 podcast network in the U.S.in terms of scale and reach, the companies said.
Financial terms of the deal were not disclosed. Fox reported that Red Seat Ventures will operate as a standalone entity within Fox's Tubi Media Group. Paul Cheesbrough, CEO of Tubi Media Group, assumes the role of chairman, Red Seat Ventures.
The Red Seat Ventures executive team, led by founding partners Chris Balfe and Kevin Balfe, will continue to lead and operate the business.
"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 Paul Cheesbrough, CEO, Tubi Media Group. "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 is involved in a variety of areas, including podcasts, streaming video, subscription products and live events, such as the wholly owned 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, Red Seat Ventures. "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."
