\n
<\/p>\n
The streaming and media wars continue with yet another big acquisition: Fox Corporation is acquiring Roku for $22 billion.<\/p>\n
The two companies announced the deal before markets opened on Monday morning, with Fox saying it will pay $160 per share in a purchase that will combine cash and Fox stock. The deal is expected to close next year. <\/p>\n
Roku is perhaps most widely known for its streaming devices and hardware, but it also runs a streaming channel, The Roku Channel, which has its own slate of original programming. <\/p>\n
Fox is the parent company of Fox News, Fox Sports, and other entities spun out of 21st Century Fox when the Walt Disney Company purchased the entertainment studio<\/a> in 2019.<\/p>\n Shares of both companies declined in early-morning trading on Monday after markets opened. <\/p>\n Roku Inc. (Nasdaq: ROKU) saw its stock price down about 1% just after the bell, while the stock price for Fox Corporation (Nasdaq: FOX) tumbled more than 15%.<\/p>\n This is a contrast to the broader Nasdaq Composite, which was up more than 2% in early trading on Monday.<\/p>\n Fox previously acquired Tubi<\/a>, another streaming platform, in 2020. The Roku acquisition effectively adds more firepower to the company\u2019s streaming capabilities. <\/p>\n Last year, it also acquired Red Seat Ventures<\/a>, a conservative podcasting company. <\/p>\n Roku\u2019s devices are used by more than 100 million people. In all, the combined company<\/a> will mix Fox\u2019s sports, news, and other content with Tubi’s and Roku\u2019s platforms, Fox says. <\/p>\nHow have markets reacted to the news?<\/h2>\n