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PR Newswire·

FOX CORPORATION COMPLETES ACQUISITION OF ROKU

  • Fox Corporation completed its acquisition of Roku, Inc., creating a combined media & technology entity that includes Roku, Tubi, and FOX One.
  • The new company serves over 100 million households worldwide via Roku's open distribution platform while leveraging FOX's premium live sports, news, & local programming.
  • Fox anticipates achieving approximately $400 million in run-rate cost synergies within two years of the transaction closing.
  • The deal is expected to be accretive to free cash flow per share by the second full year after closing.
  • Roku will maintain its role as a leading open ecosystem for the broader streaming industry to preserve viewer choice & partner value.
  • Anthony Wood, Roku's founder, joined the Fox board & will serve as Co-Chair of the newly formed FOX Digital Platforms division alongside Paul Cheesbrough.
  • Under the merger agreement, Roku shareholders received $95.30 in cash plus 0.9799 shares of Fox Class A stock for each Roku share held.
  • Fox stockholders will own approximately 74% of the combined company, while former Roku shareholders will own approximately 26%.
  • Roku shares ceased trading on the Nasdaq immediately following the transaction completion.
  • Allen & Company LLC served as lead financial advisor to Fox, while Qatalyst Partners served as exclusive financial advisor to Roku.
Company
Fox Corporation
Keywords
Fox Corporation