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Lachlan Murdoch Pushes Fox Deeper Into Streaming With $22B Roku Deal

By acquiring Roku, Fox would gain access to over 100 million households, enhancing ad targeting and strengthening its position in streaming wars.

FOX is poised to strengthen its position in the ad-supported streaming market. On Monday, the media company led by Lachlan Murdoch announced it would acquire smart TV firm Roku for $22 billion, or $160 a share (about 14 percent above Roku’s current market price) in a cash-and-stock deal. The transaction, expected to close next year, would combine Fox’s sports, news and entertainment programming and the Tubi platform with Roku’s connected TV ecosystem and the Roku Channel. The merger would create the third-largest streaming platform in the U.S., according to Market Chalemon, furthering Murdoch’s vision for Fox’s “next chapter” following the 2019 sale of its entertainment assets to Disney.

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