Fox completes $22bn acquisition of Roku — Channel NewsAsia

Fox Corp has completed its $22 billion acquisition of streaming platform Roku. The deal, announced in June, was concluded with payment in cash and shares. According to Channel NewsAsia, citing Reuters, Fox announced the completion of the acquisition on November 6.

Access to Roku's audience

Completion of the deal gives Fox access to the Roku platform, which is used by more than 100 million households. For a media company that depends on cable television, this could help attract a larger digital audience.

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Bet on the advertising business

Fox expects the streaming platform to strengthen the broadcaster's advertising business and expand the online reach of its sports and news programming. Access to Roku users could also potentially allow the company to target advertising more precisely.

CNA described the acquisition as a significant bet by Fox on developing its digital business. The company expects that the Roku platform will help it increase its online presence through broader access to households that use the service.