Fox to acquire Roku for $22 billion in cash and stock deal

Fox Corporation has announced a definitive agreement to acquire Roku in a transaction valued at approximately $22 billion, paying $160 per share in cash and Fox stock.

The merger will create the third-largest U.S. television player by share of viewing, integrating Fox's content and Tubi with the Roku platform.

Roku CEO Anthony Wood will join the Fox Board and remain active within the combined company.