Fox Corporation and Roku announced the signing of a definitive agreement in which the American media giant will acquire the developer of a television operating system for US$160.00 per share. According to a statement released this Monday, the 15th, the transaction will be a combination of cash and Fox’s Class A common shares, valuing Roku at approximately US$22 billion in market value.
Under the terms of the deal, Fox shareholders will own about 73% of the combined company, while Roku shareholders will own the remaining stake.
According to Fox, the union will create the third largest broadcaster in the US television market by audience share. Together, the companies would form what Fox called a “large-scale, next-generation media and technology company” poised to benefit from live sports and news as well as the continued growth of streaming.
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At 8:37 am (Brasília time), Fox Corporation’s shares fell 13.94% in the New York pre-market, while Roku rose 2.53%.
