Bloomberg - Fox’s surprise acquisition of Roku is a $22 billion bet on streaming as the company’s future, after years of building up a cable-TV empire and amassing sports media rights.
- The deal will make Fox a streaming distributor as well as a content company, and the combined company will become the third-largest player in US television by viewing share.
- It’s a gamble by Lachlan Murdoch, fresh off a succession battle that cemented his role as heir apparent to his father’s media empire.
- Investors balked at the Roku deal, sending Fox shares down 17%, their steepest decline on record. Competitors including Google and Samsung are working to narrow Roku’s lead, while Walmart bought smart-TV maker Vizio in 2024 to accelerate its advertising business.
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