In one of the biggest media and tech moves of the decade, Fox Corporation and Roku Inc. announced a blockbuster agreement today. Fox is acquiring Roku for $160 per share, valuing Roku at roughly $ 22 billion. The deal will blend FOX’s broadcasting expertise with Roku’s connected TV footprint.
The Roku channel reaches 100 million streaming households. The combined company will be the largest player in the television industry. FOX says the move is a step in a strategy that began in 2019, when they focused on live sports, news, and the 2020 acquisition of Tubi. The move secures long-term growth for FOX and gives the connected TV a stronger position in advertising. Roku already leads this category, but now FOX gets a stronger foothold.
The acquisition still requires regulatory approval, but both companies expect the deal to close after a standard review. Once finished, the entity became one of the most powerful and influential players in the U.S. media landscape. For viewers, the companies promise a more intuitive streaming experience and better content delivery.
