Comcast buys streaming service Xumo
Comcast Corp. said Tuesday it has acquired Xumo, a free advertising-supported streaming service, from Panasonic Corp. [s:JP: 6752] and Meredith Corp. for an undisclosed sum. Xumo, which offers more than 190 free channels showing entertainment, news, and sports, will operate as an independent business unit within Comcast Cable. The service is similar to ViacomCBS Inc.'s Pluto TV, the ad-supported video startup Viacom snapped up for $340 million last year. Xumo had 5.5 million monthly active users as of spring 2019.
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