Fox steps up streaming ambitions with $22 billion Roku acquisition
Fox CEO Lachlan Murdoch said on Monday that the Roku acquisition marks a "defining moment" for the company.
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Fox is making its biggest bet yet on streaming TV.
Fox on Monday announced it had entered an agreement to acquire Roku for a mix of cash and stock. The deal gives Roku an enterprise value of around $22 billion, Fox said.
The deal combines Fox's sports, news, and entertainment content with Roku's connected-TV devices and digital ads business.
Fox CEO Lachlan Murdoch said the deal marks "a defining moment for the company."
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