TEGNA is making a strategic investment in ad-supported streaming service Tubi TV in order to extend its position in the OTT space.
Through the deal, TEGNA’s OTT ad network Premion will expand its existing relationship with Tubi TV.
Tubi TV, which offers movies and TV, will distribute TEGNA’s local content across its platform, offering viewers localized news and other digital content from TEGNA stations.
“Tubi TV strongly aligns with TEGNA’s focus on OTT content and innovative advertising solutions,” said Dave Lougee, president and CEO of TEGNA, in a statement. “Through this transaction, we continue to fuel Premion’s growth trajectory and will enhance their ability to deliver unique and high-performing ads in a way no one else can.”
“Tubi and TEGNA share a vision of the future of digital advertising, based on superior technology, targeting and premium content,” said Farhad Massoudi, founder and CEO of Tubi, in the statement. “Together, we provide innovative ad solutions within an unparalleled mix of premium content. I look forward to our broader collaboration with TEGNA.”
Earlier this month, TEGNA also signed a distribution deal with Sony Pictures Television. SPT will distribute all TEGNA-owned first-run programming, including series “Daily Blast Live” and future development. The companies will collectively launch shows to air on TEGNA stations. SPT will also act as the advertising sales representative for national barter and integrations, and will retain the right to market and promote the programs in all media.
“It’s a one-of-a-kind agreement, where TEGNA and Sony Pictures Television each bring distinct strengths to the new partnership,” said Robert Sullivan, senior vice president for programming at TEGNA, in a statement. “With ‘Daily Blast Live’ and other programs in our creative pipeline, together with Sony’s expertise in the three key areas of sales, development and distribution, we look forward to expanding our list of available content for TEGNA stations and beyond.”