“This is a defining moment for Fox, and a natural extension of the deliberate and focused strategy we have been executing for nearly a decade," with a strategy focused on live news and sports.

Fox Corp. is buying streaming platform Roku in a cash-and-stock deal valued at approximately $22 billion.

Fox acquires Roku for $160 a share, valuing it at about $22bn, to pair its live sports and news with the platform in 100 million streaming households.