Fox buys Roku in a $22 billion deal to grow its streaming presence.

Fox buys Roku in a $22 billion deal to grow its streaming presence.

Fox Corp. wrapped up its $22 billion purchase of Roku on Friday, wagering that the streaming platform will strengthen its ad business and carry its sports and news content to a wider online audience.

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The cash-and-stock deal, announced in June, puts Fox in front of over 100 million households that use Roku, which could help the cable-dependent company grow its digital audience and target advertising more precisely.

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