Fox Corp. has reached an agreement to acquire streaming platform and device maker Roku in a transaction valued at approximately $22 billion, marking one of the biggest media deals of the year and further reshaping the television and streaming landscape.
It is the latest instance in which a major media company seeks to adapt to changing viewing habits where audiences are increasingly watching content through streaming services and connected-TV platforms rather than traditional cable bundles. The industry has also seen a fresh wave of consolidation activity in recent months as companies seek greater scale in advertising, distribution and streaming.
