Fox is buying Roku

Fox has announced that it's acquiring Roku outright, in a deal that values the streaming company at $22 billion.

The deal will see Fox's TV networks and Tubi streamer combine with Roku's network of streaming devices, smart TV software, and The Roku Channel. The companies say in a press release that by combining they'll become the third-largest player in the US TV industry by viewing share.

It doesn't sound like the plan is to build Roku and Fox into a walled ecosystem. Roku founder and CEO Anthony Wood, who will stay on in the company and join Fox's board of directors, said in an investor call that Roku "will continue to operate as an open …

Read the full story at The Verge.

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