Fox Corporation has entered a definitive merger agreement to acquire a majority stake in Credible Labs Inc., a leading consumer finance marketplace in the country. Fox is looking to buy 67% of the …
will retain his post as CEO and will exchange shares equal to 33% of the company’s outstanding common stock into units of a newly created Fox subsidiary.
“Fox Corporation’s record of innovation and focus on audience engagement will further enhance Credible’s position as a leading consumer finance marketplace in the United States, creating opportunities for organic growth and the expansion of the Credible platform,” Dash stated. “Credible’s industry-leading user experience, combined with FOX, will provide greater impact and scale for consumers.”
The transaction is expected to close in the fourth quarter of this year upon the majority vote of all Credible shareholders, majority vote of all shareholders other than Dash and his affiliates and is subject to the receipt of regulatory approvals. Once closed, the Fox Corporation will add Credible to its digital roster which includes the Fox Nation service, the pay-per-view functionality on the Fox Sports app, live and on-demand content on Fox Now, FOXNews.com, FOXBusiness.com and the websites of local Fox TV Stations.
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