Fox Corporation is acquiring streaming platform Roku in a $22 billion deal, the companies said on June 15.
The cash‑and‑stock deal, approved by the board of directors, gives Fox access to Roku’s global footprint. This includes Roku’s devices and services, which reach 100 million households worldwide and generate about 145 billion hours of engagement per year.
Fox will buy Roku for $160 a share, representing a 20 percent premium from the June 12 closing price.
The combined company will become the third-largest player in U.S. television by share of viewing, controlling more than 5 percent of the market.
In recent years, the news and sports programming giant has been steadily pushing deeper into streaming, most notably with the launch of Fox One this past summer. But the company has trailed other major names in the industry, including Amazon, Disney+, Netflix, and YouTube….