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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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[–] BigDiction@lemmy.world 3 points 10 hours ago

Well that’s a shame. Will be disappointed to see them destroy the utopian advertising friendly paradise of Roku City.