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Fox Bets $22 Billion On Roku In Streaming Power Grab
Benzinga·
Fox Corporation agreed to acquire Roku Inc. for approximately $22 billion in a cash-and-stock transaction. Roku shareholders will receive $160 per share ($96 cash and 0.9693 Fox Class A shares). The combined company aims to become the third-largest U.S. television player by merging Fox's sports, news, and entertainment content with Roku's streaming platform and 100+ million household reach. Fox shares plummeted nearly 10% on the announcement, while Roku shares rose slightly.
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