Los Angeles, CA–The popular tabloid-style, celebrity gossip and news site TMZ has reportedly been sold by Warner Media to the FoxCorp, in a deal close or less than $50 million. TMZ stands for the “thirty mile zone” of Hollywood studios and a serves reference point for those in the industry. TMZ is headed by Journalist Harvey Levin, who was once a lawyer and worked as a legal expert for television stations in Los Angeles.
In 2012, Jim Paratore, co-founder of TMZ passed from a heart attack while in France. He helped to create shows like “Ellen” and was President of Telepictures.
Official details of the deal have not yet been released but those “close” to the deal have shared few details.
Levin is said to have signed a multi-year deal with Fox and will remain as head of the day to day operations, reporting to Fox’s head of alternative entertainment, Rob Wade.
“It also brings TMZ under the same corporate umbrella as Fox News, which is unlikely to boost TMZ’s popularity among Hollywood talent and executives. Both TMZ and Fox News launched as crusaders against the status quo in cable news and gossip news, backed by major mainstream media companies, but embracing a point-of-view that was absent from existing offerings,” (The Hollywood Reporter).