John DiFucci, equity research analyst at Guggenheim Securities, discusses his market picks and recent activity on Wall Street on the topic of “Making Money.”
Fox Corp. announced Friday that it had finalized its acquisition of Roku to expand its streaming presence which already includes Tubi and FOX One.
The company’s announcement states that the combination of Live Sports and News from FOX and local programming with Roku’s open connected TV platform reaching more than 100 million homes will create “new opportunities for the company to serve its viewers, advertisers and partners.”
FOX expects to realize approximately $400 million in ongoing cost synergies within two years of closing the transaction, with potential for additional revenue growth, and will contribute to free cash flow per share by the second full year after closing.
FOX CORPORATION ANNOUNCES ACQUISITION OF ROKU FOR $22 BILLION IN STREAMING AND LIVE TV DEAL
Fox Corp. said the Roku acquisition would create new opportunities for the company to serve viewers, advertisers and partners. (Tiffany Hagler-Geard/Bloomberg via Getty Images)
Lachlan Murdoch, executive chairman and CEO of Fox Corp., said “the closing of this acquisition advances FOX’s long-term strategy. Moving forward, our top priority for the combined company is to continue to tirelessly serve the public and partners, while reinforcing the openness and choice that are the company’s essence. Roku Platform.
“Our shared entrepreneurial passion and clear belief in building the future with our new colleagues at Roku give us great confidence in the opportunities that lie ahead.”
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Fox Corp. announced the deal to acquire Roku for $22 billion in June 2026, and the deal will be finalized in November. (Tiffany Hagler-Geard/Bloomberg via Getty Images; Roy Rochlin/Getty Images)
Roku founder Anthony Wood will join FOX’s board of directors and will also serve as co-chairman of FOX Digital Platforms, a newly created division that includes Roku, Tubi, FOX One, Red Seat Ventures and others. digital products and services throughout the company.
Wood will work alongside Paul Cheesbrough, who will assume the role of co-president and CEO of the division.
Roku founder Anthony Wood will join FOX’s board of directors and will also serve as co-chairman of FOX Digital Platforms. (Tiffany Hagler-Geard/Bloomberg via Getty Images)
“We launched Roku more than two decades ago to give people a better way to watch TV, and that mission doesn’t change today,” Wood said in a statement.
“What’s changing is our reach and resources. FOX has a deep respect for Roku’s culture and fully shares our commitment to remaining open to all content partners.
“Our teams will continue to build and innovate as they always have, now with the support and capabilities of FOX behind us. I’m proud of what the people at Roku have built and I’m excited for what’s next.”
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Fox Corp. is the parent company of FOX Business.
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