Fox Corp. to buy streaming pioneer Roku in a $22 billion deal
Summary
Fox Corp. will buy Roku, a streaming service company, in a deal worth about $22 billion. The combined company aims to become the third-largest TV viewer platform in the U.S., with no immediate changes expected for Roku users.Key Facts
- Fox Corp. agreed to buy Roku in a cash-and-stock deal valued at around $22 billion, including debt.
- Roku will continue as an open platform that works with many partners.
- The merger will create the third-largest U.S. TV viewing platform by audience share.
- Fox will gain access to over 100 million global households and Roku’s streaming channel and data.
- Fox already owns sports, news, entertainment networks, and the streaming service Tubi.
- Roku’s CEO and founder, Anthony Wood, will stay with the company and join Fox’s board.
- Fox shareholders will own about 73% of the new company; Roku shareholders will own about 27%.
- The deal needs shareholder and regulatory approval and should close in the first half of next year.
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