Fox to Buy Roku at $22 Billion Value in Streaming Video Push

Fox Corp. agreed to acquire Roku Inc. in a deal valued at about $22 billion including debt, creating a new television juggernaut and marking a big push into ad-supported streaming. The deal will blend Fox’s sports, news and entertainment channels, including the free, ad-supported Tubi, with Roku’s streaming platform of more than 100 million subscribers, the companies said in a statement Monday. The acquisition will create the third-largest player in the US television market by share of viewing, spanning broadcast, cable, local and streaming, the companies said. “This combination will transform the scope of our company into high-growth verticals and yield a step change in our overall growth profile,” Fox Chief Executive Officer Lachlan Murdoch said in the statement. For more on Fox's acquisition of Roku, Bloomberg Intelligence Analyst on US Media, Geetha Ranganathan, joins Paul Sweeney and Scarlet Fu on "Bloomberg Intelligence." (Source: Bloomberg)