Fox Corp. has agreed to buy the streaming pioneer Roku in a cash-and-stock deal valued at approximately $22 billion, including debt. This acquisition will give Fox access to more than 100 million global households, along with the Roku channel and its first-party data.

Expansion of Fox’s Reach

Fox oversees a massive sports, news, and entertainment network, as well as Tubi, which it acquired in 2020. The companies said that Roku will continue to be run as an open, partner-friendly platform. The combined company will become the third-largest player in U.S. television by share of viewing.

According to Fox Corp. CEO Lachlan Murdoch, combining the businesses will bring together Fox’s live news and sports content with a streaming platform with large viewership. It will also give Fox more exposure to advertising and streaming subscriptions.

Roku founder Anthony Wood, who is Roku’s chairman and CEO, stated that the combination with Fox is an extraordinary opportunity to accelerate their vision, scale faster, and innovate more aggressively for viewers, partners, and advertisers. Wood will have an ongoing role at the company and will join the Fox board of directors after the transaction closes.

Original reporting: WPBF West Palm Beach — read the source article.