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Fox acquires TMZ

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Fox Corp. acquired celebrity news platform TMZ from AT&T Inc.’s WarnerMedia unit.

While the terms of the deal were undisclosed, people familiar with the matter said the purchase values TMZ at less than $50 million.

The Wall Street Journal last month reported a deal was being negotiated that could value TMZ at as much as $125 million.

Read more from The Wall Street Journal.

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