21st Century Fox In Deal To Buy true[X]

21st Century Fox today said it has reached a preliminary agreement to acquire true[X] media, a video advertising company that specializes in consumer engagement and on-demand marketing campaigns.

Closing of the transaction is subject to the completion of a definitive agreement and other customary closing conditions. Financial terms were not disclosed.

Founded in 2007, true[x] offers online publishers and advertisers a digital and on-demand marketing platform. Following the acquisition, true[X] will remain a stand-alone business, and will continue to deliver platforms and services to a wide range of television clients, as well as streaming music and video companies such as Pandora and DramaFever, among others.

On the marketing side, the company’s client list includes many top consumer brands, including Microsoft, Visa, Apple, Disney, Coca-Cola, Kia, Kraft, Macys, Nestle and Procter & Gamble.

“The connections between brands and consumers have continued to evolve within digital video environments, and true[x] is at the center of this vital area of innovation,” said James Murdoch, co-COO of 21st Century Fox. “We’re thrilled at the opportunity to have true[x]’s talented team work with us as we set out together to create new experiences in what we believe is a very exciting time in digital video.”

As part of the acquisition, true[X] will work closely with Fox Networks Group to drive engagement between brands and consumers on Fox’s proprietary digital platforms.

“At Fox, we are constantly working to create ad experiences that empower marketers to reach consumers in new and more effective ways,” said Randy Freer, president-COO of Fox Networks Group. “We are excited about the opportunities true[X] brings with respect to enhancing ad engagement for consumers on our networks’ digital platforms.”

“This puts the true[X] team in an even better position to fulfill our vision and shape the digital video ad industry,” said Joe Marchese, founder of true[X] media. “As a creator and distributor of content, 21st Century Fox’s interests are very much aligned with our mission and vision to build technology to support a thriving digital video marketplace.”