New Delhi, June 15 -- Shares of Roku, the popular streaming TV platform, fell 2.5% to $139.80 apiece on Monday, 15 June, after Fox Corp announced that it would acquire the company in a deal that values the streaming video platform at approximately $22 billion.

Including debt, the transaction will create a television and streaming giant with control over both content and distribution, enabling it to better compete with major streaming platforms in the advertising market.

The deal, which comes after Roku spent the past several months working with investment bankers to explore strategic alternatives, will combine Fox's portfolio of sports, news, and entertainment channels - including the free ad-supported streaming service Tubi - with Roku...