Fox Corporation just wrote a $22 billion check to acquire Roku, the streaming hardware and platform company that sits in more than 100 million American households.
The transaction, announced on June 15, values Roku at roughly $160 per share. That’s a 28% premium over Roku’s closing price on June 10. Each Roku shareholder gets $96 in cash plus 0.9693 shares of FOX Class A stock per share.
What Fox is actually buying
When more than 100 million households turn on their TV, many of them see Roku’s interface first. Fox is essentially buying the front door to American living rooms.
Fox owns Fox News, Fox Sports, Fox Broadcasting, and the free ad-supported streaming service Tubi. What it hasn’t owned until now is the distribution layer. Roku gives Fox that layer, plus proprietary ad-targeting data that makes every commercial slot more valuable.
