Fox has announced its intention to buy Roku in a deal valued at $22 billion.
The two companies have, as of this week, entered into an agreement for the transaction that would see Roku become an “open, partner-friendly platform” owned by Fox.
Fox, of course, is the media company best known for sports broadcasting as well as Fox News – the latter for better or for worse.
In a press release, Fox and Roku explain:
The transaction combines FOX’s leading sports, news and entertainment content and the Tubi service, with Roku’s leading connected TV platform, The Roku Channel, first-party data and direct relationship with more than 100 million global streaming households. Together, FOX and Roku will create a scaled next-generation media and technology company positioned at the intersection of two of the most important forces reshaping video consumption: the enduring primacy of live sports and news, and the continued rise of streaming.
