21st Century Fox says it has reached a deal to acquire the video-advertising company TrueX media, whose client base includes the streaming platform DramaFever.
Financial terms of the transaction were not disclosed. Specializing in consumer engagement and on-demand marketing campaigns, TrueX media will remain a stand-alone business, working with platforms like DramaFever and Pandora as well as ad clients such as Microsoft, Visa, Apple and Disney. Fox Networks Group will work with TrueX media to enhance engagement between brands and viewers on its digital platforms.
“The connections between brands and consumers have continued to evolve within digital video environments, and TrueX is at the center of this vital area of innovation,” said James Murdoch, co-COO of 21st Century Fox. “We’re thrilled at the opportunity to have TrueX’s talented team work with us as we set out together to create new experiences in what we believe is a very exciting time in digital video.”
Randy Freer, president and COO of Fox Networks Group, added, “At Fox, we are constantly working to create ad experiences that empower marketers to reach consumers in new and more effective ways. We are excited about the opportunities TrueX brings with respect to enhancing ad engagement for consumers on our networks’ digital platforms.”
“This puts the TrueX Media team in an even better position to fulfil our vision and shape the digital video ad industry,” added Joe Marchese, founder of TrueX media. “As a creator and distributor of content, 21st Century Fox’s interests are very much aligned with our mission and vision to build technology to support a thriving digital video marketplace.”