Fox Corp is buying streaming platform Roku in a cash-and-stock deal valued at approximately $US22 billion ($A31 billion).
The deal will give Fox access to the Roku channel, first-party data and more than 100 million global streaming households.
Fox will pay $US96 in cash and 0.9693 shares of its Class A common stock for each Roku Class A and Class B share outstanding. The transaction is valued at $US160 per Roku share.
Existing Fox shareholders are expected to own approximately 73 per cent of the combined company and Roku shareholders will own about 27 per cent, once the deal closes.
The deal is expected to close in the first half of next year. It still needs approval from Fox and Roku shareholders and also regulatory approval.
