Fox acquisition of Roku antitrust review

Fox has completed its $22 billion acquisition of Roku after Justice Department antitrust review and expected conditions.

The Justice Department was previously reported to be leaning toward allowing the Fox-Roku deal with a consent decree. Fox has now closed the acquisition, combining a major media company with the largest connected-TV streaming-platform provider. Fox said the deal adds streaming scale, and later reporting said Roku will be delisted and Anthony Wood will join Fox’s board.

The completed deal affects Fox, Roku, streaming competitors, advertisers, viewers and regulators as integration may reshape connected-TV distribution and ad-supported streaming.

• The transaction has an enterprise value of about $22 billion. • Roku distributes streaming services through connected TVs and devices. • Roku also operates its own ad-supported Roku Channel. • Fox had previously acquired Tubi, a free ad-supported streaming service. • One report said the merger closed in 144 days.