New York, June 15 -- Fox Corporation is buying streaming platform Roku in a USD22 billion deal that would make the American media giant a force to reckon with in the live news and sports as well as streaming industry.

Fox will acquire Roku for USD160 a share in a combination of cash and FOX Class A common stock, the company said in a release.

"This is a defining moment for FOX, and a natural extension of the deliberate and focused strategy we have been executing for nearly a decade," Lachlan Murdoch, executive chair and CEO, Fox Corporation said.

The deal will see Fox paying USD96 in cash and 0.9693 shares of Fox Class A common stock for each Roku Class A and Class B share.

"In 2020, we acquired Tubi and under our stewardship it has b...