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[AJUMP23]

Fox to buy streaming pioneer Roku in a $22 billion deal

Fox Corp. is buying streaming platform Roku in a cash-and-stock deal valued at approximately $22 billion.

apnews.com

Fox Corp. has agreed to buy the streaming pioneer Roku in a cash-and-stock deal valued at approximately $22 billion, including debt.

The deal will give Fox access to more than 100 million global households, along with the Roku channel and its first-party data. Fox oversees a massive sports, news and entertainment network, as well as Tubi, which it acquired in 2020.

Roku founder Anthony Wood had initially worked within Netflix in the early 2000s as that company attempted to make the seismic shift from renting DVDs, to streaming.

Roku was spun off by Netflix, however, and the company released its first set-top box in 2008.

Wood, who is Roku's chairman and CEO, said his motivation in pursuing the technology was his desire to record and play his favorite show, "Star Trek."

The companies said Monday that Roku will continue to be run as an open, partner-friendly platform. Fox and Roku said that the combined company will become the third-largest player in U.S. television by share of viewing.


Fox Corp. CEO Lachlan Murdoch said in a statement that combining the businesses will bring together Fox's live news and sports content with a streaming platform with large viewership. It will also give Fox more exposure to advertising and streaming subscriptions.

"The combination with FOX is an extraordinary opportunity to accelerate our vision, scale faster and innovate more aggressively for viewers, partners and advertisers," Wood said in prepared remarks.


Wood will have an ongoing role at the company and will join the Fox board of directors after the transaction closes.

Fox will pay $96 in cash and 0.9693 shares of its Class A common stock for each Roku Class A and Class B share outstanding. The transaction is valued at $160 per Roku share.


Existing Fox shareholders are expected to own approximately 73% of the combined company and Roku shareholders will own about 27%, once the deal closes.

The deal is expected to close in the first half of next year. It still needs approval from Fox and Roku shareholders and also regulatory approval.

Fox's stock declined before the market open, while shares of Roku rose slightly.

Not really sure what to do with this news.

 

[winjer]

Is Roku really worth 22 billion?

 

[Trogdor1123]

Well, they have handled Tubi pretty good so far. Maybe it will be ok? I wonder if they will merge the apps or keep them separate?

 

[AJUMP23]

Is Roku really worth 22 billion?

Fox says it is. But Roku was like we need to get our money.

Well, they have handled Tubi pretty good so far. Maybe it will be ok? I wonder if they will merge the apps or keep them separate?

Brand synergy.

 

[K' Dash]

 

[Hideous Snake]

Roku actually worth that amount? Can't see it

Not really sure what to do with this news.

SHOVE IT UP YOUR. Nah just kidding

 

[spookyfish]

I mean, if there's an area that's underserved and ripe for the taking it's STREAMING, amiright?

 

[diffusionx]

Say what you will about Roku but they've been grinding for a long time, they have devices, tvs, their software is ubiquitous, and even channel

 

[Puscifer]

Roku actually worth that amount? Can't see it


SHOVE IT UP YOUR. Nah just kidding

It's the ecosystem. It's in smart tvs, standalone devices. Fox/Disney is basically getting a piece of everyones pie and I mean EVERYONE'S, pie.

 

[Hideous Snake]

It's the ecosystem. It's in smart tvs, standalone devices. Fox/Disney is basically getting a piece of everyones pie and I mean EVERYONE'S, pie.

Apart from a Roku TV, does it work like Apple TV too? I mean my TV got apps but does it have anything to do with Roku?

 

[Puscifer]

Apart from a Roku TV, does it work like Apple TV too? I mean my TV got apps but does it have anything to do with Roku?

Yes. You basically have a roku built in the same way those Amazon FireTVs do. Pretty much licensing themselves to manufacturers who don't have the teams to create their own platform

 

[Hideous Snake]

Yes. You basically have a roku built in the same way those Amazon FireTVs do. Pretty much licensing themselves to manufacturers who don't have the teams to create their own platform

Oh wow I never knew that. I thought companies made their own apps to work

 

[MooMilk2929]

Well, theres a apple tv ap. But it's not a channel. It's a app that lets you play your apple videos you get from itunes. I dunno if it has a tv channel to stream.

 

[Jinzo Prime]

It's the ecosystem. It's in smart tvs, standalone devices. Fox/Disney is basically getting a piece of everyones pie and I mean EVERYONE'S, pie.

Fox Corp isn't Disney. It's the company left over after Disney bought the rest of Fox.

 

[FoxMcChief]

Damn, they overpaid. I think I paid $25 for mine.

 

[AJUMP23]

Damn, they overpaid. I think I paid $25 for mine.

Prime week is a good time to buy ROKUs.

 

[FoxMcChief]

Prime week is a good time to buy ROKUs.

Yup. I got a Roku for my backyard patio tv. Works beautifully.

 

[Robot Carnival]

are we sure it's not FOX misplacing a B instead of an M before that illion?

 

[Saber]

Not sure this will do Roku any good, but ok.

 

[sono]

What does this do for the consumer

 

[kpopSuperstar]

What a fuck is roku

 

[AJUMP23]

What a fuck is roku

Hardware streaming device.

 

[jason10mm]

If they sell me a Roku/Fox tv with a UI inspired by Alien......damn might bite

 

[Trilobit]

I feel like I'm too European to know what Roku is.

 

[EverydayBeast]

Did the Roku thing, it was the best after the "cord cut" until streaming services prices went up.