Comcast acquires free streaming service Xumo

Comcast

has acquired Xumo

, a free, ad-supported streaming service with more than 190 different channels.

The service has a complicated ownership history — it began in 2011 as a joint venture between Panasonic and Myspace parent company Viant, which was

acquired by Time Inc. in 2016

, and then Time Inc. was later acquired by Meredith

.

The companies are not disclosing the financial terms of the deal, which

The Wall Street Journal previously reported

was in the works. Comcast says Xumo will operate as an independent business within the largest Comcast Cable unit.

“The talented team at

XUMO

has created a successful, growing, and best-in-class set of streaming capabilities,” the company said in a statement. “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’s been just over a year since Viacom (now ViacomCBS)

acquired another free, ad-supported streaming service, Pluto TV

.

And in just a few months, Comcast-owned

NBCUniversal

will be launching Peacock

. While the service will include paid subscription options, the company has emphasized the role that ads will play, with NBCUniversal Chairman Steve Burke arguing that there’s an opening in the streaming landscape to focus “ad-supported, premium content.”

Xumo last announced

that it has 5.5 million monthly active users in spring 2019.

NBCU’s streaming service Peacock launches April 15 for Comcast subscribers, everyone else on July 15