India, June 15 -- Fox Corp. (FOXA,FOX) Monday said it has agreed to acquire Roku Inc. (ROKU) in a cash-and-stock transaction valued at approximately $22 billion, combining Fox's sports, news, and entertainment assets with Roku's connected-TV platform.
Under the terms of the agreement, Roku shareholders will receive $160 per share, consisting of $96 in cash and 0.9693 shares of Fox Class A common stock for each Roku share.
Following the transaction, existing Fox shareholders are expected to own about 73% of the combined company, while Roku shareholders will hold approximately 27%.
The deal combines Fox's portfolio of live sports and news programming, including NFL, MLB, NASCAR, FIFA World Cup, and Fox News, with Roku's streaming platform,...