Fox completes $22B acquisition of Roku streaming platform

Fox has completed its $22 billion acquisition of Roku, a major streaming platform that reaches more than 100 million households in the United States, TechCrunch reported.

The deal, first announced in June and finalized earlier than expected, brings Roku under Fox's ownership, marking one of the largest media transactions in recent years according to TechCrunch.

Fox expects the acquisition to enhance its advertising targeting capabilities, strengthen its position in the connected TV market, and reduce reliance on traditional TV distribution, as reported by TechCrunch.

Roku's founder Anthony Wood stated that the company's mission to provide a better way to watch TV remains unchanged, and Fox shares a commitment to keeping Roku's platform open to all content partners, The Verge noted.

With Roku now part of Fox, the company plans to integrate its sports, news, and local station content into the platform, while maintaining Roku's open streaming ecosystem, The Verge added.

Fox also operates its own streaming services, Fox One and Tubi, which complements its expanded streaming portfolio following the acquisition, according to The Verge.