Fox strikes $22 billion deal for Roku to fuel streaming push
Fox Corp is buying Roku in a cash-and-stock deal valued at about $22 billion in a bet that pairing its sports and news programming with a top TV streaming platform will strengthen its position as audiences shift online.
The deal, announced on Monday, gives Fox access to the more than 100 million households using Roku’s streaming platform, potentially helping the cable TV-reliant media company better target ads and reduce reliance on traditional distribution.
It is Fox’s first major acquisition since CEO and Chairman Lachlan Murdoch cemented control over the media empire his father Rupert built, following a family settlement last year.
