Fox to buy streaming firm Roku in $22bn deal
Fox said it has agreed to buy streaming firm Roku for roughly $22 billion. BBC reports the move is seen as a bet that combining streaming with Fox's news and sport will help offset audiences shifting online. The deal would rank among the largest streaming-sector mergers to date.
Fox has agreed to buy streaming-device maker and platform operator Roku for roughly $22 billion, the BBC reports. The deal reflects Fox's ambition to combine its news and sport output with a streaming distribution stack as traditional television advertising continues to shrink.
Roku runs one of the most widely used streaming interfaces in the United States and has been growing through televisions sold under the Roku TV brand. Completion will depend on regulatory clearance and may attract scrutiny over sector concentration, the BBC notes.
Analysts say the merger could give Fox the scale in connected-TV advertising it needs to narrow the gap with rivals such as Netflix and Disney+. Investors will now focus on the integration plan and on the annual cost-synergy targets management is expected to disclose. None of this constitutes investment advice.
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