Fox's $22B Roku Acquisition Approved by Shareholders

· Entertainment · United States

Shareholders of both Fox Corp. and Roku voted to approve Fox's $22 billion cash-and-stock acquisition of the streaming platform at separate special meetings on Wednesday. The deal, announced in June, was approved by a majority of shares held by investors in both companies; the outcome had been widely expected. Fox, run by Lachlan Murdoch, plans to use Roku to accelerate its streaming capabilities, combining the media company's content with Roku's streaming operating system and audience reach. The deal marks one of the largest media M&A transactions of the year and comes amid a wave of consolidation as traditional media companies push further into streaming to offset declining cable revenue.

Why it matters：The approval clears a major hurdle for one of the year's biggest media mergers, reshaping competition among streaming platforms and signaling continued consolidation as legacy media companies scale up against Netflix and other giants.

Key points

  • Fox announced the $22 billion cash-and-stock deal for Roku in June.
  • Votes were held separately by Fox Corp. and Roku shareholders on Wednesday.
  • The deal is intended to turbocharge Fox's streaming capabilities.

Sources (original reporting)

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