EXCLUSIVE:Pay-TVbundle Philo is hitting some notable operational milestones in its eighth year as a full-fledged pay-TV service.
Until then, it will continue to exist as a stand-alone storefront for transactional customers.
Financial terms of the transaction were not disclosed.
A Philo TV, complete with squiggles meant to evoke the brainstorming of TV inventor Philo T. FarnsworthCourtesy
Investors in Philo include Mark Cuban, AMC Networks, A+E Networks, Warner Bros.
Discovery, and Paramount Global.
The strides made by Philo come at a consequential moment for pay-TV and streaming.
Hulu parent Disney opted to buy Fubo after being sued along with Fox and Warner Bros.
Discovery in an antitrust claim prompted the planned debut of Venu Sports, a joint venture.
Venu was formally scrapped last month after the lawsuit was settled.
WBD, meanwhile, has a sports tier on flagship streamer Max.
Frndly is a similarly constituted but smaller pay package that leans toward more conservative programming.
Dish Networks Sling TV is comparable in size but a bit pricier, starting at $46 a month.
The traditional bundle as we know it is breaking down, he said.
As other services become increasingly sports-focused, Philo remains an ideal complement for entertainment-first viewers.
