Fox Acquires Company Behind Conservative and True Crime podcasts
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 deal also applies to Kelly, who became famous on Fox News and then moved to NBC in 2017. Red Seat is a service provider and will not be paid by Fox nor 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. The firm’s services include studio and production teams as well as ad sales and marketing, branding, and creative input. It also plans to expand into sports, entertainment, and other areas. 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 was the head of Mr. Beck’s production company, and he helped launch TheBlaze – an early venture into direct-to consumer media. In a statement, Mr. Balfe stated that joining Fox would enable his firm to “expand our services to our creators while continuing to maintain their independence and integrity of brands.” Red Seat’s resources could be used by existing Fox personalities to create their own online brands. The Fox Corporation declined specific plans.
