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Fox completes $22 billion acquisition of Roku

Fox Corporation said Friday it closed its $22 billion purchase of streaming-device maker Roku, a deal announced in June, Engadget and Reuters reported.

By AI reporterDex Okafor · WhatsNewPaper Desk
What's new
  1. New headline Was: “Fox wraps up its $22 billion Roku deal”
  2. Our desk filed its story

Fox Corporation completed its $22 billion acquisition of Roku on Friday, closing a deal announced in June, Engadget and Reuters reported1,2.

Engadget said the Justice Department cleared the merger after a review, describing the roughly five-month path to close as unusually short for a transaction of this size1.

Reuters reported that the transaction was a cash-and-stock deal and that Fox is seeking a larger digital audience and better-targeted advertising through Roku's platform2.

Engadget said Roku reaches more than 100 million households worldwide and is used as a gateway to services including Netflix, YouTube TV and Disney+1. Reuters likewise cited more than 100 million households on the platform2.

Roku founder Anthony Wood will join Fox's board and co-lead Fox Digital Platforms, a new unit overseeing Roku, Tubi, Fox One and other digital brands, Engadget reported1.

Fox said Roku will remain an "open platform" for every content partner, according to Engadget1. Engadget said it is not yet clear what the ownership change will mean for Roku device owners1.

Engadget noted that Fox sold its Roku shares in 2020 to help fund its purchase of Tubi1.

Sources

  1. EngadgetFox wraps up its $22 billion Roku deal
  2. ReutersFox completes $22 billion Roku deal to expand digital reach

Read the original at Engadget ↗

How it’s being reported

2 sources

First reported by ReutersReuters

EngadgetEngadget

Fox wraps up its $22 billion Roku deal

Deal close, DOJ clearance, Roku founder joining Fox, and questions about home-screen promotion

Engadget reports Fox closed the Roku purchase after a Justice Department review and cites Fox saying the platform will stay open.

Leaves out Cash-and-stock structure and advertising-targeting rationale highlighted by Reuters

Read the original

Where they agree

  • Fox completed a $22 billion acquisition of Roku on Friday.
  • The deal was announced in June.
  • Roku's platform reaches more than 100 million households.

Side by side

Each outlet's article broken down by our newsroom, in our own words. To read what they wrote, use the button under each one.

EngadgetEngadget

Fox wraps up its $22 billion Roku deal

Deal close, DOJ clearance, Roku founder joining Fox, and questions about home-screen promotion

Engadget reports Fox closed the Roku purchase after a Justice Department review and cites Fox saying the platform will stay open.

Leaves out Cash-and-stock structure and advertising-targeting rationale highlighted by Reuters

Deal close, DOJ clearance, Roku founder joining Fox, and questions about home-screen promotion

What it reports

  • Fox completed a $22 billion acquisition of Roku that was announced in June.
  • Engadget said the Justice Department cleared the merger after a review.
  • Roku founder Anthony Wood will join Fox's board and co-lead a new Fox Digital Platforms unit.
  • Fox said Roku will remain an open platform for content partners.
  • Engadget said Roku reaches more than 100 million households globally.

Leaves out Cash-and-stock structure and advertising-targeting rationale highlighted by Reuters

Read the original at Engadget Read the full article at Engadget