21st Century Fox to Buy Interactive Video-Ad Startup True[x]

/ Dec 17, 2014

21st Century Fox

21st Century Fox has signed a preliminary deal to acquire True[x], a startup that specializes in interactive ads for video content.

Financial terms of the deal were not disclosed, though it’s believed to be in the range of $200 million, according to reports from The Wall Street Journal and The New York Times.

Founded in 2007, True[x] offers an ad solution that allows publishers to replace normal video ads with an interactive unit that features a mix of display and video content. Typically, viewers are given the option of choosing the normal streaming experience, which come with multiple commercial breaks, or interacting with the True[x] ad for an uninterrupted viewing experience.

Currently, True[x] works with streaming video and audio companies like DramaFever and Pandora, as well as an array of TV networks. Its brand client list Microsoft, Visa, Apple, Disney, Coca-Cola, Kia, Kraft, and Procter & Gamble.

If the sale goes through, True[x] will remain an independent subsidiary of Fox. The startup will also work with the Fox Networks Group to drive ad engagement on Fox’s owned and operated digital video platforms.

“The connections between brands and consumers have continued to evolve within digital video environments, and True[x] is at the center of this vital area of innovation,” said James Murdoch, co-COO of 21st Century Fox and an existing investor in True[x], in a statement. “We’re thrilled at the opportunity to have true[x]’s talented team work with us as we set out together to create new experiences in what we believe is a very exciting time in digital video.”

The deal is also the latest in an industry that’s in the middle of a lot of M&A activity. Earlier this year, LiveRail and SpotXchange were acquired by Facebook and RTL Group, respectively, while last year Adap.tv went to AOL. It’s not unlike another type of video ad company, the YouTube MCNs, which are also being snatched up left and right.

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