The amount at which Xumo was bought remains undisclosed.
As per a recent announcement by the company, Comcast has acquired Xumo which is an OTT streaming service. It has a paid and ad-supported free tier for both on-demand and live programming.
However, it is currently unknown how much was Xumo bought for. Further, Comcast’s statement provided that, inside the Comcast Cable, Xumo will continue to operate as an independent business. The California-based OTT service had reported over 5 million users in April 2019.
The article speculates that the acquisition may be part of a trend wherein bigger media companies “pad out their entertainment offerings and cover as many bases as possible” by acquiring smaller businesses like Xumo. Xumo was originally started in 2011 by MySpace’s parent company, Viant.
[3 minute read]