Fox Corp Acquires Roku in $22 Billion Streaming Deal
By
Jesse Whittock
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Summary
Fox Corp has announced a definitive $22B deal to acquire Roku, the connected TV platform, at $160 per share through a mix of cash and Fox Class A stock. The acquisition combines Fox's live news and sports content with Roku's streaming platform, which reaches approximately 100 million global streaming homes and over half of U.S. broadband households. Upon closing, Fox shareholders will own about 73% of the merged entity, while Roku shareholders will hold the remaining 27%.
Key quotes
· 3 pulledFox Corp just unveiled a $22B deal to acquire connected TV service Roku, considerably boosting its streaming capabilities.
The definitive agreement will see Fox acquire Roku for $160 a share through a combination of cash and Fox Class A stock.
Upon closing Fox shareholders will own about 73% of the merged business, with Roku shareholders taking the other 27%.
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