Fox completes acquisition of streaming giant Roku

Resumen detallado

Fox announced the completion of its deal to acquire streaming platform Roku, which the company expects will expand opportunities to serve audiences and partners.

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Fox Corp. announced on Friday that it completed its acquisition of Roku to expand its streaming presence that already includes Tubi and FOX One.

The company's announcement said the combination of FOX's live sports, news and local programming with Roku's open connected TV platform reaching over 100 million households will create "new opportunities for the company to serve its viewers, advertisers and partners."

FOX expects to achieve about $400 million of run-rate cost synergies within two years of the transaction's close, with additional potential revenue upside, and will be accretive to free cash flow per share by the second full year after closing.

FOX CORPORATION ANNOUNCES $22B ACQUISITION OF ROKU IN LANDMARK STREAMING AND LIVE TV DEAL

Fox Corp. said acquiring Roku will create new opportunities for the company to serve viewers, advertisers and partners. (Tiffany Hagler-Geard/Bloomberg via Getty Images)

Lachlan Murdoch, executive chair and CEO of Fox Corp., said the "closing of this acquisition advances the long-term strategy of FOX. 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.

"Our shared entrepreneurial passion and clear conviction toward building the future together with our new Roku colleagues gives us great confidence in the opportunities ahead of us."

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