Fox completes $22 billion Roku deal to expand digital reach
The deal adds Roku to Fox Digital Platforms as the company targets streaming growth and expects about $400 million in annual cost synergies within two years.
- On Friday, Fox Corporation completed its $22 billion acquisition of Roku, a deal designed to bolster the broadcaster's advertising business and expand digital reach for its sports and news programming.
- Announced in June, the merger closed in less than five months, well ahead of the projected 2027 window after the Department of Justice and international regulators cleared the transaction.
- Roku ceased trading on the Nasdaq on Friday, with former shareholders now holding approximately 26% of Fox outstanding shares as the company launches Fox Digital Platforms division.
- CEO Anthony Wood joins the Fox board of directors, while Fox CEO Lachlan Murdoch called the combination "an innovative, scaled media and technology company with superior reach, engagement and monetization capabilities."
- Leveraging Roku's platform reaching more than 100 million households, the company expects approximately $400 million in run-rate cost synergies within two years following the transaction close.
20 Articles
20 Articles
Fox completes Roku acquisition
Fox Corporation has announced the successful completion of its acquisition of Roku. With this acquisition, FOX says it has entered a new transformational era – creating an innovative scaled media and technology company with superior reach, engagement and monetisation capabilities. The combination of FOX’s premium live sports, news and local programming with Roku’s open connected […]
Fox finalizes Roku acquisition in $22 billion deal
After years of being on the outside looking in at the streaming revolution, Fox Corporation is making a massive move in acquiring streaming platform Roku. As other media companies, networks, and tech giants built up their own platforms, Fox held on to their linear business for years. They acquired FAST (Free Ad-Supported Streaming Television) service…
Fox Corp. Closes $22B Acquisition Of Roku
Fox Corp. has closed its $22 billion acquisition of Roku, creating a massive new player in streaming. Shares in Roku, which was founded more than two decades ago, will stop trading on the Nasdaq as of Friday. Fox CEO Lachlan Murdoch earlier this week indicated that regulators outside the U.S. had blessed the merger, and […]
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