Recently Tegna, the parent company behind many broadcast TV stations around the United States, announced that they have made a “strategic investment” in the free streaming service Tubi (formally known as Tubi TV).
“Tubi TV strongly aligns with TEGNA’s focus on OTT content and innovative advertising solutions,” said Dave Lougee, president and CEO, Tegna. “Through this transaction, we continue to fuel Premion’s growth trajectory and will enhance their ability to deliver unique and high-performing ads in a way no one else can.”
“Tubi and Tegna share a vision of the future of digital advertising, based on superior technology, targeting and premium content,” said Farhad Massoudi, founder and CEO of Tubi, Inc. “Together, we provide innovative ad solutions within an unparalleled mix of premium content. I look forward to our broader collaboration with Tegna.”
With this deal Tegna’s Premion ad network will expand its relationship with Tubi to offer advertising options to their clients.
This once again shows how traditional broadcast providers are scrambling to find ways to respond to the growing cord cutting trend. This time it looks like Tegna is looking at getting into more streaming and mainly finding new places to sell ad content.
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