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Fox buying streaming platform Roku in cash-and-stock deal worth about $22 billion (apnews.com)

submitted 20 hours ago by MicroWave@lemmy.world to c/economics@lemmy.world

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Fox Corp. is buying streaming platform Roku in a cash-and-stock deal valued at approximately $22 billion, including debt.

The deal will give Fox access to the Roku channel, first-party data and more than 100 million global streaming households. Fox oversees a massive media network that includes sports, news and entertainment, as well as Tubi.

The companies said Monday that Roku will continue t be run as an open, partner-friendly platform. Fox and Roku said that the combined company will become the third-largest player in U.S. television by share of viewing.

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[–] rafoix@lemmy.zip 38 points 19 hours ago (1 children)

Corporate consolidation is the capitalist end point. They can’t run the business any better so they make it bigger and fire more people.

[–] Sludgehammer@lemmy.world 11 points 19 hours ago (1 children)

And eventually there's just one company left, so you have no choice but to buy from them no matter how expensive or slapdash their product.

[–] 48954246@lemmy.world 8 points 18 hours ago (2 children)

And that company here is Disney right? Unless I'm mistaken Disney's owns Fox, so this reeks even more of Disney's effort to swallow any sort of competition

[–] P00ptart@lemmy.world 1 points 9 hours ago

Mom corp. actually. All because she was scorned by Dr Farnsworth.

[–] 0ops@piefed.zip 15 points 18 hours ago (1 children)

Not this fox, you're thinking of 21st century Fox. This is Fox as in Fox News

[–] 48954246@lemmy.world 5 points 11 hours ago (1 children)

Fox Sports and Fox Broadcasting join Fox News as assets that will help make up Fox Corporation — which is officially a stand-alone, publicly traded company.

Ah ok, thanks for the pull up.

[–] 0ops@piefed.zip 1 points 5 hours ago

Anytime