What happened
Fox has finalized its $22 billion purchase of Roku, TechCrunch reported, with the completion announced on Friday. The transaction formally brings the streaming company, which dates back to 2002, under Fox ownership. Fox says the merged business is now the third-largest TV operation in the U.S. when measured by viewership, which makes this one of the larger media transactions of recent years.
In a statement, Anthony Wood, who founded Roku, said its original goal of giving people a better way to watch TV is unchanged, while its reach and resources grow. He added that Roku's teams would continue to build and innovate, now with Fox's capabilities in support. Fox expects Roku's audience to sharpen its advertising targeting, bolster its standing in connected TV and lessen its dependence on traditional TV distribution.
Context
The companies first announced the agreement in June. At that time, they said they expected it to close in the first half of 2027. Two months before completion, the Justice Department sent both companies a second request, seeking further information and records for its review of the deal on competition grounds. Reports earlier this month indicated that U.S. regulatory approval was close.
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