Fox Entertainment, a subsidiary of Fox Corporation, announced Monday that it has purchased celebrity and gossip media outlet TMZ from WarnerMedia.
TMZ founder and managing editor Harvey Levine will remain in his role and oversee day-to-day operations. Levine founded TMZ in 2005 with the late Jim Paratore.
“We couldn’t be charged more. Fox Entertainment is opening up a world of opportunities for TMZ to grow and expand our existing platform in every way possible!” Levine said in a statement.
TMZ’s syndicated television programs already air on 18 Fox-owned network affiliates. Fox will also own and operate TMZ’s sports programs and the brand’s flagship website, TMZ.com, among other assets.
“When I see a breaking celebrity-related story that’s shocking, funny, and addictive, I know it’s TMZ,” Fox Entertainment CEO Charlie Collier said in a statement. “Whether through broadcast or digital, TMZ has brought its brand-defining energy and sense of urgency to fans around the world. We see great potential in building this franchise by connecting new creative ventures with Harvey and everyone at TMZ Let’s see. Here’s the team hooked up to Harvey, Charles, and Fox Cubicles for years to come.”
The purchase also includes TMZ’s Celebrity Tour operation in Los Angeles and its culture and celebrity outlet TooFab.com.
According to an investor disclosure, the Murdoch family owns 39.6 percent of Fox Corporation. The company is made up of several branch subsidiaries, including the national operations of Fox Broadcasting Company, Fox Television Stations, Fox News, Fox Business, Fox Sports.
“The unique and powerful brand Harvey created at TMZ has changed the entertainment industry forever and we are excited to welcome him to Fox,” Fox Corporation CEO Lachlan Murdoch said in a statement.
Over the years TMZ has been known to break major celebrity stories before celebrity media outlets were established. Its national television show began the expansion of TMZ.com.
This News Originally From – The Epoch Times