Fox Corp. acquires Roku in $22 billion streaming deal
By
Michelle Chapman
A touch underbaked. Edible, but you'll want a strong coffee alongside.
Summary
Fox Corp. has agreed to acquire streaming platform Roku in a cash-and-stock deal valued at approximately $22 billion. The acquisition gives Fox access to Roku's 100 million+ global households, the Roku Channel, and valuable first-party data. Fox, which already owns Tubi (acquired in 2020), oversees a vast sports, news, and entertainment network. The deal highlights the ongoing consolidation in the streaming industry, with Roku having been spun off from Netflix in the early 2000s.
Key quotes
· 4 pulledFox Corp. has agreed to buy the streaming pioneer Roku in a cash-and-stock deal valued at approximately $22 billion, including debt.
The deal will give Fox access to more than 100 million global households, along with the Roku channel and its first-party data.
Roku founder Anthony Wood had initially worked within Netflix in the early 2000s as that company attempted to make the seismic shift from renting DVDs, to streaming.
Roku was spun off by Netflix.
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