Comcast is in advanced talks to acquire free, advertising-supported video streaming company Xumo as its NBCUniversal unit prepares for the launch of streaming service Peacock. More details:
Wall Street JournalFinancial terms of the potential deal, which would come as Comcast's NBCUniversal is getting ready to launch streaming service Peacock, weren't immediately clear.
Similar to ViacomCBS' Pluto TV, which Viacom purchased for $340 million in January, Irvine, Calif.-based Xumo offer a free, ad-supported streaming service. Executives from Comcast, led by chairman and CEO Brian Roberts, have said that Peacock will offer a free tier with advertising in addition to subscription tiers.
Xumo, led by CEO Colin Petrie-Norris, was launched in 2011 as a joint venture between Panasonic and Viant, the company now owned by Time Inc. parent Meredith Corp. "Xumo is your destination for free live and on-demand streaming entertainment," the company says on its web site. "With 90 different channels to choose from, you won’t get bored. Tune in for newly launched music channels, breaking news, epic fails, stand up comedy, sports, news coverage, and more.
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