Fox completed its acquisition of Roku, combining a major content owner with a streaming platform used in more than 100 million households.
The big picture: Fox has completed its acquisition of Roku, creating a media and technology company that combines Fox sports, news and local programming with Roku's connected television platform.
- Roku reaches more than 100 million households worldwide and will sit beside Tubi, Fox One and other digital products in a new Fox Digital Platforms division.
- Roku shareholders receive $95.30 in cash and 0.9799 Fox Class A shares for each Roku share owned before closing.
By the numbers: Existing Fox shareholders own about 74% of the combined company's shares and former Roku holders own about 26%. Roku shares stopped trading on Nasdaq after the close.
- Fox expects roughly $400 million in annual run-rate cost savings within two years and projects the deal will add to free cash flow per share by the second full year.
Yes, but: The savings and revenue gains are company forecasts. Fox says Roku will remain an open platform serving thousands of apps and channels across the streaming ecosystem.
What's next: Roku founder Anthony Wood joins Fox's board and will co-chair Fox Digital Platforms with Paul Cheesbrough, who also becomes the division's CEO.
Why it matters: Fox now controls both premium programming and a major television distribution layer. That combination can improve advertising data and reach while testing Fox's promise to preserve access for competing content providers.
