Fox Corporation announces $22 billion cash and stock Roku acquisition
Fox Corporation just announced it's acquiring Roku in a massive $22 billion cash-and-stock deal.
This means Fox's live sports and news content will join forces with Roku's streaming platform, which already has more than 100 million households using Roku's streaming platform.
Fox CEO and Chairman Lachlan Murdoch called it a "defining moment," saying the move will help Fox go bigger in digital and rely less on old-school cable TV.
Fox Roku deal aims $400 million savings
Roku shareholders will get $96 in cash plus nearly one Fox share for each Roku share, a 33.7% premium to Roku's close on Thursday.
After the merger, expected to close in the first half of calendar year 2027, Fox shareholders will own most of the new company, which aims to save $400 million a year and become the third-biggest TV player in the US.
The merger will unlock new opportunities for users as more people ditch cable for streaming.