FOX ENTERTAINMENT ACQUIRES MARVISTA ENTERTAINMENT

Acquisition Supercharges FOX'S Digital Growth Strategy and Fortifies MarVista's Global Output of Made-For-Platform Content and Worldwide Distribution Success

FOX Invests in Growth of Prolific Independent Studio Known for Efficient Production Strategy and Creative Partnerships Across Industry's Biggest Global Brands and Largest Platforms

FOX Entertainment has acquired MarVista Entertainment, a global leader in made-for-platform original content, it was announced today by FOX Entertainment CEO Charlie Collier and MarVista CEO and Founding Partner Fernando Szew.

Based in Los Angeles and established in 2003, MarVista ranks among the world's leading independent studios, with nearly two decades at the forefront of developing, producing and distributing made-for-platform movies for partners in the U.S. and abroad. Under Szew's leadership, the studio has developed an extensive and efficient infrastructure with best-in-class practices, operating systems and production models powering an average of 80 titles annually across all genres; holds deep global distribution expertise and reach; and has built a robust catalog of owned content with more than 2,500 hours of programming. MarVista also is a top global producer of holiday-themed content.

MarVista will continue to be led by Szew and his well-respected team of industry leaders. Szew will report to FOX Entertainment President of Production Strategy and Operations, Stefan Reinhardt. MarVista will focus on developing and producing content for FOX's digital platforms, including the ad-supported video-on-demand (AVOD) service Tubi, which continues to experience meaningful growth as a centerpiece of FOX's ambitious digital expansion strategy. The studio also will continue to work with its deep and growing roster of third-party buyers and co-production partners, while distributing its content globally.

"Fernando and his team have built a globally respected studio with a track record of prolific creative output, a vast library of owned titles and an efficient approach to production that's admired industry-wide," said Collier. "With these key strategic advantages, acquiring and investing in MarVista aligns perfectly with FOX Entertainment's long-term vision for streaming and diversifying our in-house capabilities and infrastructure, as we expand our portfolio. Across the board, MarVista boasts a wonderfully talented team, which we happily welcome to our fast-growing organization."

"I am very excited by the opportunity to further scale MarVista with the leadership, resources and entrepreneurial spirit of FOX Entertainment," said Szew. "As the content distribution landscape has evolved and become more ubiquitous and sophisticated, we are proud of the uniqueness of MarVista's innovative practices and offerings and expect to propel our growth as part of FOX Entertainment. As always, we will continue to create meaningful opportunities for filmmakers and talent, and maintain our leading position as go-to partners for the growing and diverse networks and platforms on a global basis. This is an incredible new chapter for MarVista and our passionate team."

"Amplifying our in-house expertise with MarVista's vast production know-how and bandwidth will create significant long-term value across FOX Entertainment, especially as we continue to build a library of high-quality, original content and enhance our ability to support even more third-party productions," said Reinhardt.

In addition to supporting FOX Entertainment's strategy to control more premium creative content across its platforms, the acquisition expands upon its diverse list of next-generation talent by leveraging and fostering MarVista's first-time storytellers, creators and directors. FOX also will be able to identify opportunities for improved production operations company-wide, based on MarVista's innovative, nimble and efficient approach to development and production.

Recent third-party titles produced and distributed by MarVista include Amazon Prime's soon-to-be-released Christmas is Cancelled, starring Hayley Orrantia, Dermot Mulroney and Janel Parrish; Netflix's Falling Inn Love, starring Christina Milian and Adam Demos; Disney's Halloween sensation, Under Wraps; Candy Coated Christmas for Discovery+ and Food Network; #FBF, a young adult indie starring Ashley Judd; and the Spanish language movie Operación Feliz Navidad for HBO Max in Latin America. The studio also has forged notable producing partnerships with Lionsgate to remake classic small screen features from the Hearst library; WarnerMedia in Latin America; and its global distribution partnership with Canada's Neshama Entertainment.

MarVista recently produced and/or distributed several titles for Tubi, including the thrillers TWISTED HOUSE SITTER, THE DEADLIEST LIE and holiday-themed A CHANCE FOR CHRISTMAS, all of which have been among the platform's exceptional performers.

MarVista joins FOX Entertainment's fast-growing portfolio that spans multiple disciplines and businesses. In September, FOX Entertainment acquired the entertainment platform TMZ and all its media properties from WarnerMedia. FOX Entertainment and award-winning chef, restaurateur and presenter Gordon Ramsay recently formed Studio Ramsay Global, a new, co-owned production entity that develops, produces and distributes culinary and lifestyle programming for FOX, Tubi and platforms worldwide. FOX Entertainment owns the Emmy Award-winning animation studio Bento Box Entertainment, which, last summer, launched the NFT studio Blockchain Creative Labs. The company also owns its in-house unscripted studio, FOX Alternative Entertainment, which produces THE MASKED SINGER; ALTER EGO, this season's #1 new reality program; I CAN SEE YOUR VOICE, last season's #1 new unscripted series; and NAME THAT TUNE, among others.

Moelis & Company, Latham & Watkins LLP, and Miller and Co. LLP represented MarVista on the transaction, while Paul Hastings LLP and Hogan Lovells LLP acted as legal advisors to FOX.

About FOX Entertainment

FOX Entertainment's 30-year legacy of innovative, hit programming includes 9-1-1, 9-1-1: LONE STAR, THE MASKED SINGER, LEGO MASTERS, THE SIMPSONS, Empire, 24, The X-Files and American Idol. Delivering high-quality scripted, non-scripted, animated, live content and major sports, FOX won the 2020-2021 broadcast season, marking the second consecutive season it ranked #1. In addition to its broadcast network, FOX Entertainment oversees the operations of FOX Alternative Entertainment, its in-house unscripted studio that produces THE MASKED SINGER, I CAN SEE YOUR VOICE and NAME THAT TUNE, among other series; the award-winning animation studio Bento Box Entertainment, which produces animated content for FOX, including the Emmy Award-winning hit BOB'S BURGERS and new series DUNCANVILLE, THE GREAT NORTH and HOUSEBROKEN, as well as programming for other broadcast, streaming and cable platforms; and Blockchain Creative Labs, a new business and creative unit formed in 2021 by FOX Entertainment and Bento Box, to build, launch, manage and sell Non-Fungible Token (NFT) content and experiences, and fungible tokens, as well as digital goods and assets. FOX Entertainment also recently formed the production venture Studio Ramsay Global, in partnership with award-winning chef, restaurateur and presenter Gordon Ramsay, to develop, produce and distribute culinary and lifestyle programming for FOX; its fast-growing ad-supported video-on-demand (AVOD) service, Tubi; and platforms worldwide. Tubi features more than 35,000 movies and television series, and news content that's available in the U.S., Canada, Mexico and Australia. Most recently, FOX Entertainment acquired the entertainment platform TMZ and all its media properties, including its hit syndicated magazine programs, TMZ and TMZ LIVE, and its flagship digital platform, TMZ.com.

About MarVista Entertainment

Los Angeles-based MarVista Entertainment is a leading global independent studio that produces and distributes a variety of cost-efficient content across the world. With a library showcasing nearly 2,500 hours of content, and with an average of 80 new movies per year added to the company's development and distribution pipeline, MarVista has become one of the largest suppliers of movies to the worldwide marketplace. MarVista has an expansive distribution footprint spanning more than 125 global territories and is a pre-eminent programming partner to major streamers and media companies, including Netflix, Hulu, Discovery+, Tubi, Disney Networks, Amazon Prime, WarnerMedia, Lifetime, Hallmark Channel, NBC Universal, OWN, Nickelodeon, BET and other Viacom Networks, as well as key international platforms. MarVista's recent projects include the soon-to-be-released holiday movie Christmas Is Canceled, starring Hayley Orrantia, Dermot Mulroney and Janel Parrish; Sightless, streaming on Netflix, and starring Riverdale's Madelaine Petsch; the IFC release Hunter Hunter, starring Devon Sawa, Nick Stahl, Camille Sullivan and Summer Howell; and the GLAAD-nominated A Christmas Setup, Lifetime's first LGBTQ+ led movie, starring Fran Drescher, Ben Lewis and Blake Lee.

-FOX-