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Fox announced it has fully acquired Roku, in a deal that values the streaming company at $22 billion.
The deal will see Fox Television Networks and tubes The streaming device combines with Roku’s network of streaming devices, smart TV software, and The Roku Channel. Companies say In a statement That by combining them they would become the third largest player in the American television industry in terms of viewership share.
The plan doesn’t appear to be to build Roku and Fox into a gated ecosystem. The two companies are “committed” to keeping Roku an open platform that works with other content providers, and to “continuous ubiquitous distribution” of Fox’s own content.
“This is a defining moment for Fox, and a natural extension of the thoughtful and focused strategy we have been executing for nearly a decade,” says Lachlan Murdoch, Fox CEO. “Today, we’re taking the next step: bringing together the most valuable live content collection in video consumption with the preeminent streaming platform on which America watches.”
“Over the past two decades, we’ve built Roku into the leading streaming TV platform, reaching more than 100 million households globally and reshaping how people discover and enjoy entertainment,” says Anthony Wood, Roku founder and CEO, who will remain at the company and join Fox’s board of directors. “I’m incredibly proud of what our team has built, and merging with Fox is an exceptional opportunity to accelerate our vision, scale faster and innovate more powerfully for viewers, partners and advertisers.”
The deal remains subject to regulatory approval, which in the current climate seems unlikely to pose an issue in the United States.
