Fox Announces Acquisition of Streaming Platform Roku
· Telemundo McAllen (KTLM)
Fox Corporation announced on Monday that it plans to acquire the video streaming giant Roku, along with its namesake channel and customer data, in a deal valued at a total of $25 billion. Fox, which also owns Tubi, will become the third largest player in television in the United States by audience share, adding over 100 million streaming households worldwide, according to Fox. According to Nielsen, The Roku Channel accounts for 3% of all streaming audience in the U.S., placing it fifth behind YouTube, Netflix, Disney, and Prime Video. Roku will continue to operate as an independent platform, Fox stated in a press release. It remains a key hub for viewers to access Netflix and YouTube on their televisions. According to Reuters, Roku's main source of revenue is advertising, with $613 million reported in the first quarter of this year, a 27% year-over-year increase.
AI summary · Source: Telemundo McAllen (KTLM) →
