Fox Corp is to buy Roku in a deal that values the connected TV firm at $22bn (£16bn).
Fox has agreed to pay $160 per share for Roku through a combination of cash and shares.
The deal will combine Roku with Fox’s sports, news, entertainment, and free advertising-video-on-demand (AVOD) service Tubi.
Roku is used as a streaming platform by more than 100 million households worldwide and also runs rival AVOD service The Roku Channel. Its key connected TV rivals include Amazon's Fire TV, Google TV and Chromecast, Apple TV, and Tizen.
As part of the deal, The Roku Channel is expected to combine with Tubi.
Upon closing, existing Fox shareholders are expected to own approximately 73% of the combined company, and Roku shareholders approximately 27%.
In a joint statement, the companies said the deal would create “a scaled next-generation media and technology company positioned at the intersection of two of the most important forces reshaping video consumption: the enduring primacy of live sports and news, and the continued rise of streaming.”
Lachlan Murdoch, Chief Executive of Fox, added: "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. In 2019, we reoriented the company around live news and sports. In 2020, we acquired Tubi, and under our stewardship, it has become one of the most successful businesses in streaming. 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."
Anthony Wood, Founder, Chairman, and CEO of Roku, said: "The combination with Fox is an extraordinary opportunity to accelerate our vision, scale faster and innovate more aggressively for viewers, partners and advertisers.”
Roku recently revealed it will launch Roku TV Smart Projectors in the United Kingdom from June 2026 on Amazon. Discover more here.
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