Tubi will be getting a new CEO soon. The popular free streaming service is seeing some changes to its structuring and leadership following the creation of a new Tubi Media Group unit and the stepping down of the current CEO and founder.
Tubi was originally founded in April of 2014 in San Francisco by Farhad Massoudi and Thomas Ahn Hicks. Although Tubi was then purchased by Fox in 2020, Farhad Massoudi has continued operating as the Chief Executive Officer of Tubi TV.
That is now in the process of changing, however. Farhad Massoudi will step down as CEO of Tubi TV at the end of June, following a transitional period. Who will be the next CEO currently remains unknown although that appointment is expected to be announced in the near future.
On a more wider note, this change has been announced as part of a wider restructuring. Essentially, Fox Corporation has confirmed the formation of a new Tubi Media Group which will ultimately oversee all things Tubi, as well as some of Fox’s other digital businesses.
“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.”Lachlan Murdoch, Executive Chair and CEO, Fox Corporation
The new Tubi Media Group unit will be headed up by CEO Paul Cheesbrough, previously CTO and President of Digital for Fox Corporation.
As mentioned, Tubi is a popular streaming service and although there does now seem to be some major changes happening behind the scenes, there’s currently no expectation that anything will change for users of the service.
If anything, the formation of a ‘Media Group’ around Tubi, which also oversees Fox’s other standalone digital businesses as well, highlights how important Tubi as a brand and entity has become for Fox’s digital strategy in general.
According to Massoudi, Tubi founder and departing CEO, “I know that I am leaving Tubi in the best shape it has ever been, and its future is very bright.”