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Fox to buy Roku in $22 billion deal to accelerate shift to digital (www.cnbc.com)

submitted 13 hours ago by cm0002 to c/technology@midwest.social

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Fox Corp. has reached an agreement to acquire Roku for roughly $22 billion, marking another chapter in media consolidation as the industry grapples with changing dynamics and mounting challenges.

On Monday Fox announced it would acquire Roku for $160 per share in a cash-and-stock transaction. Fox plans to fund the cash portion of the deal with a combination of cash on hand and new debt. The company said it obtained a $12 billion loan for the transaction.

Fox’s stock was down 17% in morning trading Monday. Roku fell 2%, though that stock gained 20% on Friday around initial reports of a potential sale.

The combination will bring together Fox’s news and sports channels as well as its free ad-supported streamer Tubi with Roku, the maker of streaming devices and also the home of The Roku Channel, a service similar to Tubi.

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[–] Kn1ghtDigital@lemmy.zip 2 points 9 hours ago

How's visio these days? I used to like their TV's for my computer setups.

[–] CameronDev@programming.dev 6 points 13 hours ago

Rip roku

[–] kibblebits@quokk.au 2 points 12 hours ago

That’s a crappy choice.

[–] Blaster_M@lemmy.world 1 points 12 hours ago

Roku noooooooooooo

[–] ProfThadBach@lemmy.world 1 points 13 hours ago

No more roku for me.