Fox buying streaming platform Roku in cash-and-stock deal worth about $22 billion
Summary
Fox Corp. is buying the streaming platform Roku in a deal worth about $22 billion that includes cash and stock. This purchase will give Fox access to Roku’s large streaming audience and data, creating a major company in U.S. television viewing.Key Facts
- Fox Corp. will buy Roku for about $22 billion, including debt.
- The deal includes $96 in cash plus 0.9693 shares of Fox stock per Roku share.
- The combined company will be the third-largest TV viewer in the United States.
- Roku will keep operating as an open platform that works with many partners.
- Fox shareholders will own around 73% of the new company; Roku shareholders will own about 27%.
- Fox owns major media properties including sports, news, entertainment, and the streaming service Tubi.
- The acquisition is expected to finish in the first half of next year after approvals.
- Fox’s stock fell slightly before trading, while Roku’s shares rose nearly 3% after the announcement.
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