Fox’s acquisition of Peloton apparel company is the latest in a string of apparel acquisitions that have shaken up the company’s business.
The deal will allow Fox to expand its apparel business, which has been dominated by its traditional sports brands like T-shirts and hats, to include apparel and accessories.
Fox will still be able to focus on sports brands, like Fox Sports, but the acquisition will give Fox a broader portfolio of brands, including clothing, footwear, and accessories for a variety of customers, according to a statement.
The deal is expected to close by the end of the year, according the statement.
Fox and Peloton have worked together on other apparel acquisitions, including a deal for a major clothing retailer.