Fox acquires streaming platform Roku in €19.1 billion cash-and-stock deal
Media giant Fox is buying Roku for about €19.1 billion, or $160 per share, merging Fox's content portfolio with Roku's platform and over 100 million global streaming households.
US media company Fox has announced an agreement to acquire streaming platform Roku in a deal valued at approximately €19.1 billion ($21.8 billion). The transaction will be paid in a combination of cash and stock.
Under the terms, Fox will pay $96 in cash and 0.9693 shares of its Class A common stock for each outstanding Roku Class A and Class B share. The total consideration is $160 per Roku share. Upon closing, existing Fox shareholders are expected to own about 73% of the combined company, while Roku shareholders will own about 27%.
The deal is subject to approvals from shareholders of both companies and regulatory authorities. It is expected to close in the first half of next year.
Fox CEO Lachlan Murdoch said the deal brings together the most valuable live content portfolio with the leading streaming platform used by Americans. Roku founder and CEO Anthony Wood highlighted that the combination with Fox offers an opportunity to accelerate the platform's vision, scale faster, and innovate more aggressively for viewers, partners, and advertisers.
As a result of the transaction, Fox gains access to the Roku channel, first-party data, and over 100 million streaming households worldwide.
