Fox Corp. has agreed to acquire the streaming platform Roku Inc. in a deal valued at $22 billion, the companies announced Monday.
The deal will combine the Murdoch family's media ******* ets, which include its news, sports and broadcast channels, with the San José-based streaming platform that reaches 100 million consumers globally.
The acquisition would give Fox access to consumer households at a time when the traditional pay-TV universe continues its slow decline as viewers move away from cable and satellite services to video streaming. Fox already owns the free ad-supported streaming service Tubi, which recently became profitable.
Read more: As streaming becomes more expensive, Tubi cashes in on the value of free
"This is a defining moment for Fox and a natural extension of the deliberate and focused strategy we have been executing for nearly a decade," Fox Corp. Executive Chair Lachlan Murdoch said in a statement.
The deal will combine the Murdoch family's media ******* ets, which include its news, sports and broadcast channels, with the San José-based streaming platform that reaches 100 million consumers globally.
The acquisition would give Fox access to consumer households at a time when the traditional pay-TV universe continues its slow decline as viewers move away from cable and satellite services to video streaming. Fox already owns the free ad-supported streaming service Tubi, which recently became profitable.
Read more: As streaming becomes more expensive, Tubi cashes in on the value of free
"This is a defining moment for Fox and a natural extension of the deliberate and focused strategy we have been executing for nearly a decade," Fox Corp. Executive Chair Lachlan Murdoch said in a statement.
2 months ago
