Rupert Murdoch's Fox Corp. has entered the podcasting arena by acquiring Red Seat Ventures, a company known for assisting former Fox News personalities in monetizing their content. This strategic acquisition highlights the increasing significance of podcasts in media, especially in the context of upcoming elections. Red Seat Ventures, now positioned under Fox Corp.'s digital division, will allow Fox to earn from these well-known figures without formal employment, showcasing a modern adaptation to changing media consumption habits and the rising popularity of audio formats.
Rupert Murdoch's Fox Corp. has acquired Red Seat Ventures, a podcasting company catering primarily to former Fox News stars, signaling its commitment to the podcasting space.
The acquisition reflects Fox Corp.’s strategy to capitalize on the growing relevance of podcasts in today's media landscape, especially regarding political discourse.
Fox aims to monetize relationships with former Fox News personalities through Red Seat Ventures, handling production and ad sales while operating under its digital division.
This move by Fox underscores a broader trend of traditional media companies investing in podcasting as a lucrative avenue, coinciding with the rise of audio content.
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