Fox Corporation announces acquisition of a streaming company for $22 billion
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Glonghui, June 16th — U.S. news, sports, and entertainment institution Fox Corporation announced on the 15th that it has signed a binding agreement to acquire U.S. streaming device and service provider Roku for approximately $22 billion. According to the announcement, Fox Corporation will pay for the transaction with cash and stock. After the transaction is completed, existing Fox shareholders will hold about 73% of the new company's equity, while Roku shareholders will hold about 27%. The boards of directors of both companies have unanimously approved the deal. Fox Corporation CEO Lachlan Murdoch stated that this transaction will accelerate the company's business transformation into high-growth sectors and enhance its overall growth outlook.
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