Fox Corp. CFO Steve Tomsic sought to clarify the company’s surprising announcement earlier this month that it plans to launch a general-interest subscription streaming service later this year.
“Our thesis hasn’t changed,” Tomsic insisted Tuesday in an appearance at the Barclays Communications and Content Symposium. “We’re not trying to chase the SVOD dream of Netflix and Disney and Peacock and Paramount+ are all chasing. That is not our game. We remain resolute about the strategy we’re pursuing.”
After spending six years affirming its plan to stay out of the streaming wars, a strategy that won favor on Wall Street, Fox said earlier this month that it plans to launch a diversified service this year. Details are still scarce, though some news and sports will be included. Execs have characterized the new entrant in a crowded market as complementing the main pay-TV offerings of Fox, much as the recently scuttled
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