Fox completes its acquisition of streaming company Roku
Roku founder Anthony Wood will join the Fox board and co-chair a new digital platforms division with Paul Cheesbrough.
Fox Corp. announced on Friday that it has completed its acquisition of Roku. The deal combines Fox's live sports, news and local programming with Roku's connected TV platform, which reaches more than 100 million households.
Fox expects about $400 million in run-rate cost synergies within two years of closing, along with possible revenue gains. The deal is expected to be accretive to free cash flow per share by the second full year after closing. Lachlan Murdoch, executive chair and CEO of Fox Corp., said the company's top priority is to keep serving audiences and partners.
Roku founder Anthony Wood will join the Fox board and serve as co-chair of the new Fox Digital Platforms division, which includes Roku, Tubi, FOX One and Red Seat Ventures. Paul Cheesbrough will serve as co-chair and CEO of the division. Wood said Roku will remain open to every content partner.
Key points
- Fox completed its acquisition of Roku, which reaches over 100 million households.
- Fox expects about $400 million in run-rate cost synergies within two years.
- Anthony Wood joins the Fox board and co-chairs the new Fox Digital Platforms division.
Read the original reporting
Summarized with AI from the sources above and reviewed before publishing.
