The buy will combine Fox's sports, news, and entertainment content and the Tubi streaming service with Roku’s connected TV platform, The Roku Channel.

Lachlan Murdoch’s Fox Corp. and streaming tech powerhouse Roku have entered a definitive agreement under which Fox will acquire Roku for $160 per share in a cash and Fox Class A common stock transaction valuing Roku at approximately $22 billion in enterprise value, the companies said on Monday.

The transaction combines Fox’s sports, news, and entertainment content and the Tubi streaming service with Roku’s connected TV platform, The Roku Channel, first-party data and direct relationship with more than 100 million global streaming households, the deal partners touted.

On a call with analysts, Murdoch, executive chair and CEO of Fox, called the acquisition a “defining moment” for his company, and one that “pairs Fox, the leader in live news and sports, with Roku, the leading connected TV platform. This acquisition will strengthen and expand our position in the high growth digital video ecosystem and unlocks new ways to serve our audiences and partners.”

The Source: https://www.hollywoodreporter.com/business/business-news/fox-acquires-roku-streaming-tech-deal-lachlan-murdoch-1236621853/