Fox Corp. expanded its reach into the growing podcast market on Monday by scooping up digital media company Red Seat Ventures, which includes former Fox News stars Megyn Kelly and Tucker Carlson.
The deal represents an investment in the media space where personalities such as Carlson, Kelly, Piers Morgan and Sean Ryan contact millions of subscribers via podcasts and streaming shows.
It also helps Fox News, the top-rated cable network, reach out to younger audiences who are increasingly tuned information into podcasts.
The financial conditions for the transaction have not been disclosed.
Valerie Wirtschafter, senior data analyst for the Artificial Intelligence and Emerging Technology Initiative at Brookings Institution, told Reuters that podcasts, particularly conservative podcasts, have become more popular in the decentralized media landscape.
“The hosts on the podcast are very trusted. They're kind of like friends,” she said. “They're more intimate. They're in your head.”
President Donald Trump's appearance in the popular “Joe Rogan Experience” in October was believed to have helped him reach an audience of primarily young male voters.
The redsheet venture, named after the redsheet at Fenway Park in Boston, which marked the longest home run in the park, offers a variety of services for talent, from billing and payroll to production support .
In January, the New York Post (owned by News Corp, which shares common ownership with Fox Corp.) held a red seat to develop the newspaper's new daily podcasts and audio division.
Red Seat's client list includes former New York Times journalist Bari Weiss, former HLN host Nancy Grace, True-Crime Podcaster Chris Hansen, TV personality Dr. Phil and former Fox News host Bill O'Reilly .
The agreement will return O'Reilly, Kelly and Carlson to Fold, while Red Seat Ventures will operate independently within Fox's Tubi Media Group.
The group operates a free video streaming service. However, the former Fox talent will not be adopted by Fox.
“We believe there is a huge opportunity to drive further scale in genres such as sports, news and entertainment,” Paul Cheesbrough, CEO of Tubi Media Group, said in a statement Monday.
The redsheet deal is not Fox's first foray into the podcasting space. In 2021, the company acquired Outkick, a correct sports and political commentary website and podcast founded by Clay Travis.
With post wire
