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Fox Corp. CFO Steve Tomsic Clarifies The Company’s Streaming Approach: “We’re Not Trying To Chase The SVOD Dream”
Fox Corp. CFO Steve Tomsic said the company's planned launch of a subscription streaming outlet does not mean it is chasing after Netflix or Disney.
But the reality is that as we sit here today, there’s the better part of 50 million households in the U.S. that are now outside the bundle and the streaming product we launch is not designed to try and chase down the hyper-scaled general entertainment players. From a technical standpoint, the new offering can benefit from some of the engineering work put in on Venu, the ill-fated joint venture of Fox, Disney and Warner Bros. In early January, after Disney acquired majority control of Fubo as part of a settlement of the suit, Venu’s partners said they were scrapping the venture.
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