Connexion
Fox Is Buying Roku For $22 Billion
Fox is buying Roku for $22 billion, combining Fox's sports, news, entertainment, Tubi, and Fox One offerings with a streaming platform that reaches about 100 million people. The companies say the merger would create the "third-largest player in US television by share of viewing," while Fox insists Roku will remain open to competing apps after the deal closes. CNN reports: Fox has dabbled in streaming over the past few years -- finally launching its Fox One competitor last August -- but has lacked a serious streaming business with the ability to compete in a space dominated by YouTube, Netflix, Amazon, Disney+, HBO Max, Paramount+ and Peacock. With CNN parent company Warner Bros. Discovery receiving initial US regulatory approval to combine with Paramount, Fox's purchase of Roku became more urgent. [...] The deal is expected to close in the first half of 2027 with the companies forecasting $400 million in savings. "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," said Fox CEO Lachlan Murdoch. "Today, we take the next step: bringing together the most valuable live content portfolio in video consumption with the preeminent streaming platform through which America watches it."
Murdoch said Roku will continue to offer competing apps. "It's essential that Roku remain open and partner-friendly business. We don't see that changing at all."
Read more of this story at Slashdot.
