Fox Corporation has announced a blockbuster $22 billion acquisition of streaming platform Roku, instantly transforming itself into a major force in America’s fiercely competitive streaming landscape.
Fox just made its biggest streaming bet yet — and it’s a $22 billion one.
The media giant is acquiring Roku, the popular streaming platform that reaches 100 million people, CNN reports. The deal combines Fox’s sports, news and entertainment content — plus its free Tubi streaming service — with Roku’s massive device and platform network, creating America’s third-largest TV player by viewing share.
“This is a defining moment for Fox,” declared CEO Lachlan Murdoch, according to CNN.
Fox will pay $160 per share — a roughly 20% premium — with the deal expected to close in the first half of 2027, delivering an estimated $400 million in savings.
The move comes as Fox scrambled to keep pace with rivals amid Warner Bros. Discovery’s merger with Paramount.
NEWS NOW:
