Roku’s shop window phase didn’t last long. Fox has agreed to acquire the streaming company, which boasts an audience of 100 million households globally, in a $22 billion deal announced today (June 15).
The deal will make Fox the third largest organization in American TV by share of viewing, and combines the company’s formidable live sports portfolio with Roku’s homescreen capabilities and CTV tech.
Signs that Roku might be flirting with suitors emerged at the end of last week, when Reuters reported its execs were negotiating with at least one U.S. media company. Today, both companies announced a cash and stock deal that valued Roku shares at $160 each (it’s currently trading around $141).
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