Fox to buy Roku for US$22 billion to fuel streaming push

Fox Corp is buying Roku in a cash-and-stock deal valued at about US$22 billion in a bet that pairing its sports and news programming with a top TV streaming platform ‌will strengthen its position as audiences shift online.The deal, announced on Monday, gives Fox access to the more than 100 million households using Roku’s streaming platform, potentially helping the cable TV-reliant media company better target ads and reduce reliance on traditional distribution. It is Fox’s first major acquisition since CEO and chairman Lachlan Murdoch cemented control over the media empire his father Rupert built, following a family settlement last year.Lachlan Murdoch on Monday called the Roku deal a “defining moment” for Fox that brings “together the most valuable live content portfolio in video consumption with the pre-eminent streaming ⁠platform through which America watches it”.