Fox announced its $22 billion acquisition of streaming giant Roku, combining live sports and news with the booming streaming market to reshape the future of video consumption.

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.