What is Roku, why is Fox Corp buying it for $22 billion?
AI Summary
Fox Corporation has agreed to purchase Roku, the streaming platform and device manufacturer, in a $22 billion transaction combining cash and stock. The acquisition unites Fox's content operations—including live sports and news—with Roku's technology platform and distribution network, which serves more than 100 million households. The merger is anticipated to close in the first half of 2027 as Fox seeks to strengthen its competitive position in the streaming market.
Roku is one of the most widely used streaming platforms in the world, powering smart TVs and streaming devices.
The platform is different from Netflix or Disney as Roku does not primarily produce content. Instead, it operates as a gateway, bringing together apps like YouTube,...
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