Fox Is Acquiring Roku For $22 Billion In A Massive Streaming Power Play
Shares of Roku surged more than 20% ahead of today's opening bell, no doubt driven by the announcement that the streaming platform has entered into a definitive agreement to be acquired by Fox for $160 per share, valuing the acquisition at $22 billion. The massive deal gives Fox an audience of more than 100 million global streaming households to serve up its sports, news, and entertainment content, as well as its Tubi service, to existing Roku device owners.
In a press release announcing the deal, Roku and Fox say the acquisition enables the two giants to create a scaled next-generation media and technology company, while promising to keep Roku as an open, partner-friendly platform. Notably, Roku recently revamped its smart TV home screen with a heavy focus on AI curation and a large, permanent advertisement.
"I’m incredibly proud of what our team has built, and the combination with Fox is...
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