Fox Corporation and Roku announced the planned acquisition on Monday, as reported by Spiegel. Roku is valued at $22 billion. The company produces streaming sticks and platforms that compete with Amazon’s Fire TV sticks in the US and Germany.
Fox Lachlan Murdoch, son of Rupert Murdoch, aims to expand the reach of his media brands through the deal. Fox Corporation owns Fox News and Fox Sports channels, among others. In a joint statement, the companies said the acquisition combines “Fox’s leading sports, news, and entertainment content” with the “leading connected TV platform,” creating a “next-generation media and technology company.”
The transaction will be financed with a mix of cash and Fox shares. After closing, current Fox shareholders would hold about 73 percent of the combined company, while Roku shareholders would hold about 27 percent. Roku will continue to operate as an “open, partner-friendly platform,” according to the announcement.
Source: www.spiegel.de
