Fox Corp. to acquire Roku in $22 billion deal
Fox Corp. announced a $22 billion acquisition of streaming platform Roku, creating a combined entity that aims to become the third-largest U.S. television viewer share.
Fox Corp. said it will purchase Roku in a transaction valued at about $22 billion, including debt. The merger will combine Fox's portfolio of live sports, news and entertainment programming with Roku's streaming platform and connected-TV operating system, which is used in more than 100 million households worldwide.
Fox CEO Lachlan Murdoch described the combination as a transformational move amid growing competition for streaming audiences. > "The deal combines the most valuable live content portfolio in video consumption with the preeminent streaming platform," Murdoch told investors on a conference call.
The companies indicated that the merged entity is expected to rank as the third-largest player in U.S. television by share of viewing.