Free, ad-supported streaming on the rise as major media companies buy up platforms

A few of the last remaining major ad-supported streaming platforms are reportedly nearing sales to major media companies.

Why it matters: The acquisitions show how valuable big media companies think ad-supported streaming services could be to their overall streaming strategies, as they continue to also invest in subscription streaming offerings.

Driving the news: Fox is eyeing an acquisition of free-ad supported streaming service Tubi in a deal that could be valued at more than $500 million, according to the Wall Street Journal.

• The Journal also reports that Comcast's NBCUniversal is "in advanced talks" to acquire streaming-video service Vudu from Walmart.
• Last year, the Journal also reported that Comcast was in talks to buy ad-supported streaming company Xumo.

Be smart: While Netflix remains the incumbent to beat in the subscription streaming wars, there's not yet a dominant player in the free, ad-supported streaming space, according to previously reported data from Magid Associates.

The big picture: Analysts have anticipated that more consolidation would be on the horizon.

• Viacom bought Pluto TV, a free streaming app, for $340 million last January to compliment CBS' subscription streaming product, CBS All Access.
• Amazon-owned IMDB launched Freedive — a free, ad-supported streaming video channel featuring hit movies and TV shows — last year.

Go deeper: Free streaming services begin to challenge subscription video