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Fox, the parent company of Fox News has bought the tabloid website TMZ from CNN’s parent company AT&T.

Harvey Levin the founder of TMZ will continue to run the company under Fox. The purchase by Fox includes the website, TV series, TMZ on TV, and a spinoff series TMZ Sports on FS1.

Fox will also operate the TMZ tour bus business in Los Angeles.

Terms of the deal were not made public, but sources say that Fox paid less than $50 million dollars for the purchase.

If that number is correct, some might argue that if Fox got TMZ and all the websites they run, plus the TV shows and a tour bus company for under $50 million, did Nexstar pay way too much for the website The Hill?

The Hill is ranked No. 311 in the U.S, for websites and TMZ is No. 327. In other words, traffic Is close to the same.

Nexstar reportedly shelled out $130 million bucks for The Hill, nearly $80 million more than Fox paid for TMZ.