Fox Moves Deeper Into Podcasting With Deal To Buy Red Seat Ventures.

Red Seat Ventures, the content creator that has embraced conservative podcasters such as Megyn Kelly and Tucker Carlson, as well as the true crime genre, has been acquired by Fox Corp. Terms of the deal were not immediately released, but Fox says Red Seat Ventures will operate as a standalone entity within its digital and streaming-focused Tubi Media Group. The Red Seat Ventures executive team, led by founding partners Chris Balfe and Kevin Balfe, will continue to lead and operate the business, with Paul Cheesbrough, CEO of Tubi Media Group, assuming the role of Chairman, Red Seat Ventures.

“The creator economy is one of the fastest-growing media categories worldwide by measure of reach and influence, and consumers are increasingly looking to get their information, insights and entertainment directly from the voices and brands they trust across these platforms,” Cheesbrough says in a statement. “Working with two outstanding entrepreneurs like Chris and Kevin, we see tremendous opportunities to drive additional scale in genres such as sports, news and entertainment and look forward to supporting the continued growth of this business.”

Red Seat Ventures says its creators generate over 200 million monthly downloads and views with both podcasts and videos part of its portfolio. Among the other conservative commentators it works with are Bill O’Reilly, Dr. Phil McGraw, Piers Morgan, Dana Loesch, Sean Spicer, and Eric Bolling. Red Seat has also expanded into true crime with creators Nancy Grace and “To Catch a Predator” veteran Chris Hansen. Red Seat helps the shows develop their podcasts and other content, then distributes their shows and monetizes the advertising. It also helps with the development of video and live events. 

“From the beginning, Red Seat Ventures has had the opportunity to work with some of the most influential creators in the world to grow their new media businesses and develop their personal brands,” says Balfe. “In aligning with Fox, we will be able to build upon that investment and expand the services we provide to our creators, while continuing to maintain the independence and integrity of their brands, which is truly the best-case scenario.”

News Corp. not only has ties to many of the hosts who earlier worked at Fox — like Kelly, Carlson, and O’Reilly — but its New York Post announced last month it was working with Red Seat to develop a new daily podcast. New York-based Red Seat is also the owner of CrimeCon, an annual convention for true-crime enthusiasts.

Fox already has podcasts under its umbrella. Fox News Media publishes a few dozen shows from its Fox News, Fox Business, Fox Sports, Fox Weather, and OutKick brands.

Reports that Fox was looking to move deeper into podcasting first surfaced in December when Semafor reported it was talking to Red Seat as well as The Daily Wire, home to The Ben Shapiro Show and other conservative shows; and Audioboom, the global podcast network that has publicly opened to a sale but scrapped the plan in 2021 after bids came in below expectations despite reported offers from Amazon and Spotify.

In a separate announcement, Fox says John Nallen has been named President and Chief Operating Officer. And that he has signed a new long-term employment agreement through June 2028. Nallen previously served as COO. Prior to the spinoff of Fox and its establishment as a standalone public company in 2019, Nallen was the Senior Executive VP and CFO for 21st Century Fox.

“John has been instrumental in the continued evolution of Fox and a key partner to me for many years,” CEO Lachlan Murdoch says. “We greatly value his ongoing impact and his strategic vision and are pleased that he will continue to help guide the strong operating momentum and profitability.”