Fox acquires Roku in a $22bn streaming bet
· TNW
AI Briefing
- • Fox acquires Roku in a $22bn deal to pair live sports and news with the streaming platform.
- • Roku valued at $22bn, with Fox paying $160 a share in cash and stock.
- • Deal aims to bring Fox's content to 100 million streaming households through Roku's devices.
Context
Fox has acquired Roku for $160 a share, valuing the company at about $22bn. The deal will allow Fox to pair its live sports and news with Roku's platform. Roku's streaming devices are currently used in 100 million households.
The acquisition brings Fox into the streaming market, moving the broadcaster away from its traditional cable roots. Fox Corporation will pay for Roku with a combination of cash and stock, expanding its reach through the maker of streaming sticks and smart TVs.
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