US media company Fox has completed its $22 billion acquisition of digital streaming platform Roku. Through the transaction, the company aims to increase advertising revenue and expand the digital reach of its sports and news content.
The deal, announced in June, was structured as a cash-and-stock transaction. The acquisition gives Fox access to more than 100 million households that use the Roku platform.
The transaction is expected to help Fox broaden its digital audience. The company generates a large share of its revenue from cable television operations, and the acquisition is expected to support an expansion of its digital viewership.
The agreement is also expected to strengthen Fox’s digital advertising operations. It is intended to enable advertisements to reach target audiences with greater precision.
