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Fox Corp completes acquisition of Roku
Fox Business • • business
Key Points:
- Fox Corp. has completed its $22 billion acquisition of Roku, aiming to expand its streaming offerings alongside its existing platforms Tubi and FOX One.
- The merger combines FOX's live sports, news, and local programming with Roku's connected TV platform, which reaches over 100 million households, promising new opportunities for viewers, advertisers, and partners.
- Fox expects to realize approximately $400 million in annual cost synergies within two years and anticipates the deal will increase free cash flow per share by the second full year post-closing.
- Roku founder Anthony Wood will join Fox's board and co-chair the new FOX Digital Platforms division, working alongside Paul Cheesbrough, who will serve as co-chair and CEO of the division.
- Both companies emphasize a shared commitment to maintaining Roku's open platform and culture while leveraging Fox's resources to innovate and grow their digital streaming presence.
