Fox buys Roku for $22bn to expand streaming presence
Fox acquires Roku in a $22bn deal that drags the cable-reliant broadcaster squarely into streaming. Fox Corporation will pay $160 a share, in cash and stock, for the maker of the streaming sticks and smart TVs sitting in more than 100 million households worldwide, the companies said on Monday. The structure is $96 in cash […] This story continues at The Next Web
Fox Corporation has finalized a $22 billion acquisition of Roku, marking a significant shift towards streaming services. The deal involves paying $160 per share, combining cash and stock, for the company behind popular streaming devices. Roku's technology is used in over 100 million homes globally. This move positions Fox as a major player in the evolving media landscape. The transaction reflects a strategic effort to adapt to changing consumer habits. Fox aims to leverage Roku's platform to enhance its digital offerings. The acquisition highlights the growing importance of streaming in the entertainment industry. This development could reshape how media companies distribute content. The deal is expected to strengthen Fox's competitive edge in the market.
The acquisition signals a major shift in media strategy as traditional broadcasters seek to dominate the streaming sector.
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