Comcast swoops for Xumo | Major Businesses | Business
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In the latest round of strategic acquisitions by media giants of vertically focussed companies within the on-demand sector, Comcast has acquired advertising-supported streaming service XUMO.

Xumo logo 26Feb2020XUMO offers free, live and on-demand streaming entertainment, news, sports and more, organised in a channel guide, and features over 190 different genre-grouped channels. Its multiscreen network of distribution partners include major smart television brands and the service is integrated into nearly 90% of smart TVs available in the US.

Explaining the rationale for the deal, Comcast said that it had recognised that XUMO has created a successful, growing, and best-in-class set of streaming capabilities. Interestingly the aqcuisition comes just before its NBCUniversal division launches the Peacock direct-to-consumer service. 

Full financial terms of the acquisition have not been disclosed but following completion of the deal, XUMO will continue to operate as an independent business inside of Comcast Cable.

Commenting on the deal, the cableco said: “We are excited for this team to join Comcast and look forward to supporting them as they continue to innovate and develop their offerings.”