Fox to buy Roku streaming firm in $22bn deal
Summary
Fox is buying the streaming company Roku for $22 billion. The deal aims to create the third largest TV service in the US by combining Fox’s live news and sports with Roku’s streaming platform.Key Facts
- Fox is purchasing Roku for $22 billion, paying $160 per share with cash and stock.
- The combined company will become the third largest TV player in the US by viewing share.
- Fox sees this move as a way to strengthen its position as more audiences watch TV online.
- Fox previously bought the streaming service Tubi in 2020, which has grown successfully under Fox.
- Fox focuses on live news and sports, and Roku is a popular platform for streaming video in America.
- Lachlan Murdoch is the CEO of Fox and supports the deal as a key step in Fox’s strategy.
- The deal brings together live content from Fox with Roku’s popular streaming technology.
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