Fox Corp. announced Sunday that it is acquiring a majority stake in Credible Labs, an online marketplace for consumer-lending information, for about $265 million.
Following the equity purchase, Fox plans to invest an additional $75 million in the San Francisco-based Credible, which is listed on the Australian stock exchange.
Fox Corp. said the deal is part of its digital strategy and that Credible will provide synergy for its Fox Business Network and Fox-owned broadcast stations. Credible’s online marketplace allows consumers to compare instant, accurate pre-qualified rates from multiple financial institutions across student loans, personal loans and mortgages, helping consumers save money and make better financial decisions.
As part of the deal, Credible founder and CEO Stephen Dash, will exchange shares equal to 33% of Credible’s outstanding common stock into units of a newly created Fox subsidiary. He will continue to serve as CEO of Credible.
Fox CEO Lachlan Murdoch said in a statement: “The acquisition of Credible underscores Fox Corporation’s innovative digital strategy that emphasizes direct interactions with our consumers to provide services they want and expand their engagement with us across platforms.”
In his own statement, Dash added, “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.”
11 Lowest-Rated Broadcast TV Shows of the 2018-19 Season That Have Been Renewed - So Far (Photos)
Fun fact for TV shows on the bubble: You don't have to have stellar ratings to get renewed. Yes, Nielsen numbers are a big part of the decision-making process when the broadcast networks choose which series to get rid of and which to keep, but they aren't everything. Each year, plenty of shows which fair modestly in the key demo squeak by. Scroll through the TheWrap's gallery to see the 11 lowest-rated TV shows of the 2018-19 season that have been renewed by Fox, ABC, CBS, and NBC -- so far. All ratings in this story come from Nielsen's "most current" data, which includes a week's worth of delayed viewing where available. Lowest-rated is first, highest-rated last. And, yes, there are ties. Readers can see the complete list of all the broadcast TV shows that have been renewed, canceled and ordered here.
Series: "The Blacklist" Net: NBC 18-49 rating: 1.1
NBC
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Here are the series with not-so-stellar Nielsen numbers that were picked up again by Fox, CBS, ABC and NBC
Fun fact for TV shows on the bubble: You don't have to have stellar ratings to get renewed. Yes, Nielsen numbers are a big part of the decision-making process when the broadcast networks choose which series to get rid of and which to keep, but they aren't everything. Each year, plenty of shows which fair modestly in the key demo squeak by. Scroll through the TheWrap's gallery to see the 11 lowest-rated TV shows of the 2018-19 season that have been renewed by Fox, ABC, CBS, and NBC -- so far. All ratings in this story come from Nielsen's "most current" data, which includes a week's worth of delayed viewing where available. Lowest-rated is first, highest-rated last. And, yes, there are ties. Readers can see the complete list of all the broadcast TV shows that have been renewed, canceled and ordered here.