Fox completed its $22 billion acquisition of Roku, creating a television giant
Fox expects about $400 million in cost savings within two years of closing as Roku stock stops trading on the Nasdaq
Fox has finalized its acquisition of streaming platform Roku, completing the deal months ahead of schedule. The $22 billion purchase positions Fox as a formidable player in the free streaming market. CEO Lachlan Murdoch announced the deal, stating that the company anticipates significant cost savings. By owning Roku, Fox will control two leading free streaming services, The Roku Channel and Tubi, which rank second and third in US TV viewership, respectively.
This move positions Fox to enhance its advertising business while gaining control over key streaming platforms. Combined, Fox's broadcast channels, cable networks, and Roku will generate more US TV viewership than Netflix or NBCUniversal, according to Nielsen data. Murdoch emphasized that the primary goal for the merged entities is to continue serving audiences and partners effectively.
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