Tubi boss Farhad Massoudi exits as Fox restructures brand under new CEO

Paul Cheesbrough

Fox Corporation parent company of ad-supported streamer Tubi, has unveiled the formation of Tubi Media Group under the leadership of newly appointed CEO, Paul Cheesbrough, following a restructure of the brand. 

The redevelopment sees Farhad Massoudi CEO of Tubi Streaming and founder stepping down at the end of June, with his replacement to be announced.

The new division will house Fox’s standalone digital businesses including Tubi, Credible and Blockchain Creative Labs, joined by the digital platforms and teams that support Fox’s wider digital business in news, sports and entertainment.

Fox Corp acquired Tubi for US$440 million in an attempt to break into the streaming market in 2020. According to the company, Tubi Media Group is designed to provide the necessary strategy, leadership and focus to take Fox’s digital business to the next level.

Cheesbrough, who in the early 2000s served as BBC Worldwide digital media chief, was previously chief technology officer and president of digital for Fox Corp where he oversaw the acquisition and management of Tubi.

Based in the Los Angeles-office, Cheesbrough will report to executive chair and CEO of Fox Corp Lachlan Murdoch who said: “Our strategic acquisition of Tubi in 2020 established a cornerstone in our digital streaming strategy, which under Paul and Farhad’s leadership has driven record growth and is now the clear market leader in AVOD in the US,”

“Building off this momentum, and complementing the strong growth being driven in our company wide digital revenues, now is the right time to bring these efforts together into a new business unit which will be tasked with spearheading our digital expansion and partnering with our brands to drive continued growth,” he added.