Fox confirmed Monday that it is acquiring streaming company Roku in a stock and cash deal valued at around $22 billion. Fox said the deal would create a media and technology company positioned around two trends reshaping video consumption: the continued appeal of live sports and news, and the growth of streaming.
Fox says the deal will create the third-largest television company in the United States. The transaction combines Fox’s news and sports channels, along with its free ad-supported streaming service Tubi, with Roku’s connected TV platform.
