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Fox's $22B deal forms third-largest TV group

Fox's $22B deal forms third-largest TV group

Fox Corporation has announced a $22 billion deal to acquire the digital streaming platform Roku, aimed at strengthening its presence in the digital content market and accelerating the company's digital transformation. The deal will involve purchasing Roku shares at $160 per share, with expectations that the combined entity will become the third-largest television entity in terms of U.S. viewership, with Fox shareholders holding a 73% stake and Roku shareholders 27%. This move comes in the context of increasing audience reliance on online streaming and the growing importance of advertising and subscription revenue for the platform.

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