Fox to Acquire Roku Streaming Firm
Media conglomerate Fox is set to acquire the streaming company Roku in a transaction that the involved parties state will establish the third largest entity in the US television market by viewing share.
This strategic move by Fox is interpreted as a calculated effort to integrate streaming services with its existing news and sports content, positioning the company advantageously as television audiences increasingly shift towards online platforms.
The acquisition offer values Roku at $22 billion (£16 billion), comprising $160 per share paid through a combination of cash and stock.
Fox CEO Comments on Strategic Expansion
"This is a defining moment for Fox, and a natural extension of the deliberate and focused strategy we have been executing for nearly a decade," said Fox chief executive Lachlan Murdoch.
"In 2019, we reoriented the company around live news and sports. In 2020, we acquired Tubi and under our stewardship it has become one of the most successful businesses in streaming.
"Today, we take the next step: bringing together the most valuable live content portfolio in video consumption with the preeminent streaming platform through which America watches it."
