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The Fox Corporation said on Monday that it had acquired Red Seat Ventures, a growing digital media company that has become a go-to partner for old-media stars like Megyn Kelly, Tucker Carlson and Piers Morgan as they create their own independent online programming.
Red Seat and its founding partners, the brothers Chris and Kevin Balfe, will continue to operate independently within Fox’s Tubi Media Group, an arm of Rupert Murdoch’s media empire focused on digital and streaming ventures. A purchase price was not disclosed.
The acquisition moves the Fox Corporation into the heart of the online “creator economy,” where media personalities who once relied on old-school corporate distributors — like, say, the cable networks owned by Fox — have struck out on their own to build podcasts and streaming shows that rack up millions of subscribers on platforms like YouTube and SiriusXM.
Red Seat’s lengthy client list includes Dr. Phil, Nancy Grace, Bill O’Reilly, the former “To Catch a Predator” host Chris Hansen and the “President’s Daily Brief” podcast. Last month, The New York Post, which is also owned by Mr. Murdoch, retained Red Seat to develop a new daily podcast and audio division for the newspaper.
The deal means that Mr. Carlson and Mr. O’Reilly — former Fox News stars who both lost their shows — will once again be tied to the Murdoch universe, albeit at a remove. (The same goes for Ms. Kelly, who rose to fame on Fox News before leaving for NBC in 2017.) Because Red Seat is only a service provider, none of the three will be paid by Fox or report to its executives. In addition, Tubi Media and Fox News are housed in separate divisions of the Fox Corporation.
Red Seat, founded a decade ago, has about 80 full-time employees and is based out of a loft space in the NoMad district of Manhattan, a neighborhood popular with tech start-ups. Among its most popular podcasts are those of Mr. Carlson and Ms. Kelly, which routinely rank near the top of Apple’s podcast charts.
The firm offers a suite of services — including studio and production teams, ad sales, marketing, branding and creative input — and is planning to expand into sports and entertainment. Red Seat also owns and operates CrimeCon, an annual convention for true-crime enthusiasts, and its maritime cousin, CrimeCruise.
Chris Balfe, 46, the chief executive, got his start working with Glenn Beck, the right-wing radio and TV host. He led Mr. Beck’s independent production company and helped start TheBlaze, an early venture in the direct-to-consumer media space. Mr. Balfe said in a statement that joining Fox would allow his firm to “expand the services we provide to our creators, while continuing to maintain the independence and integrity of their brands.”
The deal raises the prospect that Red Seat-affiliated programming, which is distributed on YouTube, Apple Podcasts and other third-party platforms, could also be carried on Fox-owned digital services. Existing Fox personalities could also potentially use Red Seat’s resources to develop their own online brands. The Fox Corporation declined to elaborate on specific plans.
“We see tremendous opportunities to drive additional scale in genres such as sports, news and entertainment and look forward to supporting the continued growth of this business,” Paul Cheesbrough, chief executive of Tubi Media, said in a statement.
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