Fox to buy Roku for $22 billion in major streaming push

Fox agreed to acquire Roku for about $22 billion, paying $160 a share in cash and stock to add the leading US smart-TV streaming platform to its news, sports and ad-supported video business. The deal would pair Roku’s device and platform reach with Fox’s channels, Tubi and the direct-to-consumer service Fox One as media companies chase viewers and ad dollars moving online. Roku reaches more than 100 million streaming households globally, and Fox said the combined company would rank as the third-largest US TV player by share of viewing. Fox plans to fund the cash portion with cash on hand and new debt, including a $12 billion loan. Fox and Roku also plan to keep Tubi and The Roku Channel separate after closing.