Tubi’s Anjali Sud exits as Fox completes $22bn Roku deal

Tubi chief Anjali Sud and Roku Media president Charlie Collier are leaving their posts, following the completion of Fox Corporation’s $22bn deal for Roku.

Sud is departing after three years, following a spell that saw the AVoD streamer’s popularity soar with a push for creator-led content, acquired programming and originals.

The company has expanded its reach during her tenure by launching in countries including Australia, Mexico and the UK, the latter of which has had shows commissioned for it and sizeable acquisition deals struck.

Sud is set to take a new role outside of the company, details of which have not yet been revealed, but will remain with Tubi for the transition.

Taking on her remit will be former Apple exec Pete Distad, who launched streamer Fox One and will now lead on Tubi and Roku’s Frndly TV.

Tubi product and engineering chief Mike Bidgoli has been upped to become president of the streamer reporting into Distad, as does Frndly TV co-founder and chief exec Andy Karofsy.

Lisa Holme, Roku’s head of content, will also report into Distad, working closely with Tubi’s long-standing content boss Adam Lewinson.

Collier & new-look team

Also departing Fox is former AMC exec Collier, who was named president of Roku Media in 2022 having previously led Fox Entertainment.

Other changes see Roku founder Anthony Wood joining the Fox board and becoming co-chair of the newly unveiled Fox Digital Platforms unit, alongside Paul Cheesbrough. The division will house Roku, Tubi and other digital units including creator firm Red Seat Ventures.

Mustafa Ozgen is taking on Wood’s remit of chief exec at Roku, with other changes likely in the coming weeks.

In a note to staff, Wood and Cheesbrough said they would “share decisions as they’re made, be clear about what’s still open and keep moving”. Town halls have been lined up for later today in the US, with a yet-to-be announced date for international equivalents.

Completion of the deal means Fox now has access to more than 100 million connected TV households, the company said. It added that the deal would “accelerate” Fox’s digital strategy and expand its “business mix towards high-growth streaming and connected TV verticals, strengthening our long-term growth profile.”

Savings of around $400m are expected within two years, but Fox said Roku would remain an “open ecosystem” for third-party streamers, allowing them to more easily partner.

Lachlan Murdoch, executive chair and chief exec at Fox Corporation, added: “Our shared entrepreneurial passion and clear conviction toward building the future together with our new Roku colleagues gives us great confidence in the opportunities ahead of us.”

Wood added: “We started Roku more than two decades ago to give people a better way to watch TV, and that mission doesn’t change today.

“What does change is our reach and resources. Fox has a deep respect for Roku’s culture and wholly shares our commitment to staying open to every content partner.”

Fox acquired Tubi in 2020 for $440m, funding the deal primarily by selling a 5% stake in Roku. The latter’s shares ceased trading on the Nasdaq on Friday, six months since Fox’s takeover was announced.