TMZ: Fox Buys the Tabloid for $50 Million
Written by KingCnote on September 14, 2021
Fox Corp has bought TMZ from AT&T’s WarnerMedia for less than $50 million, according to The Hollywood Reporter.
Founder Harvey Levin will continue running the day-to-day operations of the gossip outlet.
Besides its websites, TMZ also has a syndicated TV series, TMZ on TV, and a spinoff series, TMZ Sports, on FS1.
AT&T has been selling off its “non-core” assets, according to The Hollywood Reporter, to “help pay down its 5G wireless spectrum-driven debt load.”