(PresidentialWire.com)- TMZ, the popular culture media outlet that often sides against conservatives in its reporting, has reportedly been acquired Fox Entertainment, a subsidiary of Fox Corp. The outlet was purchased from WarnerMedia, which is owned by AT&T Inc.
The terms of the deal have not been disclosed, meaning we don’t know how much it cost or what it will mean for the network.
A statement, however, revealed that Fox will now own and operate not just TMZ but all other TMZ-branded properties included its TV shows on “TMZ” and “TMZ Live.” Shows from both brands already air on network affiliates owned by Fox. The TMZ Sports site, as well as TMZ.com and TooFab.com will now be under full control of Fox, along with celebrity tour companies previously owned by TMZ in New York and Los Angeles.
The founder and Managing Editor of TMX, Harvey Levin, will stay on in his role, overseeing operations for the brand. Fox said in its press statement that he will now report to the President of Alternative Entertainment and Specials at Fox, Rob Wade.
It’s likely that Harvey Levin received a substantial payout to hand over his business, and was swayed by the promise of staying in his position as managing editor.
Fox’s purchase of the network is fairly unsurprising. AT&T is currently in the process of letting go of much of its media investments, and focusing instead on phone and Internet services, which is what the company has always done.
Any remaining media assets that AT&T has will be combined with Discover Inc, which will form a new company named “Warner Bros. Discovery.” The terms of that new deal are expected to be released so0me time next year.