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Fox (FOXA.O) will acquire streaming video platform Roku (ROKU.O) through a cash and stock deal at a price of $160 per share, valuing Roku at approximately $22 billion. The two companies announced on Monday that the transaction is expected to be completed in the first half of 2027, combining Fox's sports, news, and entertainment content resources with Roku's platform, which has over 100 million subscribers. According to the statement, Fox has secured $12 billion in bridge financing from Morgan Stanley's senior financing department to support this acquisition. Roku's streaming devices allow consumers to watch content from applications like Netflix, HBO Max, etc., turning any television into a smart TV. Most of Roku's revenue comes from digital advertising sales and streaming service distribution business, with hardware device sales accounting for only a small portion of their income. Last year, its platform business generated $4.1 billion in revenue, accounting for 87.5% of the total company revenue.