Report: Xumo in Acquisition Talks, Sinclair Rumored Suitor
Last month, ad-supported streaming service Pluto TV was acquired by Viacom for $340M. Now one of its competitors, Xumo, is possibly on the market. According to a report in Variety, Xumo has been talking to a number of companies about a possible acquisition.
The report names Sinclair Broadcast Group as a possible buyer. Sinclair just last month launched their own ad-supported streaming service, STIRR.
Xumo was founded in 2011 as a joint venture between Panasonic and Meredith-owned, Viant. Just like Pluto TV and tubi, they take on-demand content and turn it into linear channels featured on a grid guide.
They have been able to partner with Smart TV makers including LG for a white-label streaming product. Many acquirers find this segment as an opportunity to expand their ad inventory, as well as upsell premium subscriptions to other OTT services.