TMZ sold to Fox Entertainment

submited by

Style Pass

2021-09-14 02:30:06

New York (CNN Business)TMZ is now part of Fox Entertainment, the companies announced Monday.The news and entertainment brand, best known for breaking news on celebrity gossip and deaths, was previously owned by WarnerMedia, which also owns CNN. But WarnerMedia's parent company AT&T (T ) has been shedding assets to help pay down its debt and pave the way for investments in 5G. The telecom giant sold anime brand Crunchyroll to Sony and its TV service DirectTV to TPG Capital. WarnerMedia is also slated to be spun off and combined with Discovery.Harvey Levin, the managing editor of TMZ who co-founded the company in 2005, will stay on board and report up to Fox's management. Other terms of the deal were not disclosed. Fox Corporation Execu

The news and entertainment brand, best known for breaking news on celebrity gossip and deaths, was previously owned by WarnerMedia, which also owns CNN. But WarnerMedia's parent company AT&T (T ) has been shedding assets to help pay down its debt and pave the way for investments in 5G. The telecom giant sold anime brand Crunchyroll to Sony and its TV service DirectTV to TPG Capital. WarnerMedia is also slated to be spun off and combined with Discovery.