Fox Corp. on Friday announced it had completed its $22 billion deal to take over Roku, one of the leading smart TV companies.
“Beginning today, our top priority for the combined company is to continue to relentlessly serve audiences and partners, while reinforcing the openness and choice that is the essence of the Roku platform,” Lachlan Murdoch, executive chair and CEO of Fox Corp., wrote in a news release.
The deal, announced in June, will plunge Fox deeper into the Hollywood streaming wars, years after it sold off its own film and television studio, then called 21st Century Fox, to Disney for $71 billion in 2019.
It will also give Fox an advantage in free, ad-supported streaming at a time when large streamers are embracing advertising to complement their subscription plans. Fox already owned Tubi and now will also own the Roku Channel — two of the leaders in free-to-stream media.
Comments
No comments on this item Please log in to comment by clicking here