business
Fox to buy Roku streaming firm in $22bn deal
Key takeaways
- Fox's move is being seen as a bet that combining streaming with its news and sport offering will leave it in a strong position as TV audiences move online.
- The offer of $160 per share, made up of cash and stock, values Roku at $22bn (£16bn).
- "This is a defining moment for Fox, and a natural extension of the deliberate and focused strategy we have been executing for nearly a decade," said Fox chief executive Lachlan Murdoch.
Nur Photo via Getty Images Media giant Fox is buying the streaming firm Roku in a deal the companies say will create the third largest player in US TV by share of viewing.
Fox's move is being seen as a bet that combining streaming with its news and sport offering will leave it in a strong position as TV audiences move online.
The offer of $160 per share, made up of cash and stock, values Roku at $22bn (£16bn).
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