The Xumo streaming service was recently purchased by Comcast. The Xumo streaming service was initially owned by Panasonic and Meredith Corp., and the service is supported through advertising revenue. A spokesperson for Xumo commented on the acquisition, "We are excited for this team to join Comcast and look forward to supporting them as they continue to innovate and develop their offerings."
It was also made apparent that Xumo will continue to operate independently, however, it will be a part of the Comcast business operation. The exact details of the acquisition were not made public but it is speculated that it will cost Comcast approximately 100 million USD.
Purchasing a streaming service will help Comcast adjust to declining cable subscriptions, and increased online streaming.
Image Credit: Xumo
Comcast Recently Purchased the Xumo Streaming Service
Daniel Johnson — February 28, 2020 — Tech