Fox Corp acquires Roku for $22B, forming a top US TV streaming powerhouse

Fox Corp is acquiring streaming platform Roku in a $22 billion deal that includes debt. This merger combines Fox's live sports, news, and entertainment content with Roku's streaming technology, reaching over 100 million households globally. The companies expect to become the third-largest player in US television by viewing share, enhancing their competitive position in the growing streaming market. Fox CEO Lachlan Murdoch called the deal transformational amid rising streaming competition.