$22B Cash-and-Stock Deal: Fox to Acquire Roku, Boosting Streaming Platform Reach
Summary
Fox Corporation announced a definitive agreement to acquire Roku for $160 per share, valuing the company at approximately $22 billion enterprise value. This cash-and-stock transaction will combine Fox's live content and Tubi streaming service with Roku's extensive CTV platform and over 100 million streaming households. The deal is highly significant for Fox, representing a major strategic pivot into the streaming platform space, and is expected to result in pro forma net leverage of approximately 2.8x. Fox anticipates achieving around $400 million in run-rate cost synergies, with the transaction projected to close in the first half of 2027, pending regulatory approvals.
At the time of this announcement, FOX was trading at $55.70 on NASDAQ in the Technology sector, with a market capitalization of approximately $26.1B. The 52-week trading range was $48.42 to $68.18. This news item was assessed with neutral market sentiment and an importance score of 9 out of 10. Source: Wiseek News.