Fox to Buy Roku in $22 Billion Deal

Fox Corp. agreed to purchase streaming platform Roku for about $22 billion, creating a new television juggernaut that combines news and sports with the leading streaming operating system.

The deal marks the first major move by Lachlan Murdoch since the resolution of the family succession drama.

Fox shares fell 18% on the news, reflecting investor concern over the price tag and integration risks.

The acquisition is expected to reshape the media landscape as traditional broadcasters seek to compete in the streaming era.