Fox is buying Roku | Seaside

Fox has announced that it is acquiring Roku outright, in a deal that values ​​the streaming company at $22 billion.

The deal will see Fox TV shows and Pipes streamer plus the Roku network of streaming devices, smart TV apps, and The Roku Channel. Companies say in a sentence that when combined they will be the third largest player in the US TV industry by viewing share.

It doesn’t sound like a plan to build Roku and Fox into a walled off area. The two companies are “committed” to keeping Roku an open platform that works with other content providers, as well as “going beyond any distribution” of Fox content.

“This is a landmark moment for Fox, and a deliberate expansion of the strategy we’ve been running for almost a decade,” said Fox CEO Lachlan Murdoch. “Today, we’re taking the next step: amassing the most valuable history of video consumption on America’s most popular viewing platform.”

“Over the past two decades, we’ve built Roku into a leading digital TV platform, reaching more than 100 million households worldwide and redefining the way people get and enjoy entertainment,” said Roku founder and CEO Anthony Wood, who will remain at the company and join Fox’s executive team. “I am extremely proud of what our team has created, and the merger with Fox is a unique opportunity for us to advance our vision, scale rapidly and create new innovations for viewers, partners and advertisers.”

The agreement remains legally binding, which currently appears unlikely to pose a problem for the US.