Fox Corporation has agreed to buy Roku in a $22 billion deal to expand into streaming and digital advertising, as reported by the Financial Times. The merger would combine Fox’s news and sports content with Roku’s large streaming platform, which reaches over 100 million households.
Fox plans to keep Roku operating as an open platform and expects cost savings and stronger cash flow after the deal. The acquisition reflects ongoing consolidation in the US media industry as companies compete for control of streaming distribution.