Fox Corp. has completed its $22 billion acquisition of Roku, creating a new power player in media and streaming.
The deal closed in less than five months, a fast pace for a deal this size. Roku founder Anthony Wood will join Fox’s board and also serve as co-chair of Fox Digital Platforms, the division that will house Roku, Tubi, Fox One and Red Seat Ventures.
“The closing of this acquisition advances the long-term strategy of Fox,” Fox CEO Lachlan Murdoch said in a statement. “Beginning today, our top priority for the combined company is to continue to relentlessly serve audiences and partners, while reinforcing the openness and choice that is the essence of the Roku platform. Our shared entrepreneurial passion and clear conviction toward building the future together with our new Roku colleagues gives us great confidence in the opportunities ahead of us.”
“We started Roku more than two decades ago to give people a better way to watch TV, and that mission doesn’t change today,” Wood added. “What does change is our reach and resources. Fox has a deep respect for Roku’s culture and wholly shares our commitment to staying open to every content partner. Our teams will keep building and innovating as they always have, now with the support and capabilities of Fox behind us. I’m proud of what Roku’s employees have built, and I’m excited about what comes next.”
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Source: The Hollywood Reporter · Alex Weprin
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- 🇺🇸 US
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- Added to Allnira