Fox’s Roku deal is less about buying another streaming asset than owning the home screen where Tubi, Fox One and live content can be found.

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

“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…

Fox says the combined company will be the third largest in US television.

Fox CEO Lachlan Murdoch said on Monday that the Roku acquisition marks a "defining moment" for the company.