Lachlan Murdoch Pushes Fox Deeper Into Streaming With $22B Roku Deal
The deal would give Fox access to more than 100 million streaming households and an estimated $2.4 billion Roku ad business.
- On Monday, Fox Corp. announced it will acquire Roku for $22 billion, marking the New York media company's largest-ever acquisition and integrating a major streaming platform serving more than 100 million households.
- Fox executives have largely remained on the sidelines during recent industry consolidation, and the acquisition targets the company's critical weaknesses: lack of first-party data and a lagging programmatic advertising business.
- By acquiring Roku, Fox gains access to proprietary automatic content recognition technology and an audience of more than 100 million households, positioning the combined company as the third-largest organization in American TV by share of viewing.
- Fox shares closed down 15% to about $50 on Monday following the announcement, though analyst Mike Proulx at Forrester noted that large media deals "often get punished in the short term because they introduce uncertainty."
- Expected to close in the first half of next year, the combined company will leverage Roku's programmatic ad-buying tools and first-party data to better compete for premium sports rights and strengthen its streaming position.
26 Articles
26 Articles
Fox Corporation To Buy Roku For $22B
Source: SOPA Images / Getty On Monday, Fox Corporation announced it will buy Roku for $22 billion. I tell ya, I’m getting real tired of all these media companies feeling like they have to buy each other. NBC News reports that Fox will become the third-largest player in U.S. television once the deal goes through. Fox owns Tubi, which has quickly become one of the biggest ad-supported streaming services through a combination of original programmi…
Roku sold in £16.4 billion deal, but what does this mean for UK viewers with Roku TVs and Streaming Sticks?
The Fox Corporation — the US brand owned by the Murdoch family that operates FOX NEWS and streaming service Tubi — has snapped up streaming platform Roku in a massive deal worth $22 billion, roughly £16 billion converted.Roku has quietly become a common fixture in British living rooms, and there's a good chance you've encountered its hardware or streaming channels. The company sells a range of streaming sticks in the UK, starting from £29.99, wh…
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