Fox Corp has agreed to buy streaming platform Roku for $22 billion, creating one of the largest television and streaming companies in the U.S. Under the agreement, Fox will acquire Roku for $160 per share using a mix of cash and stock. When the deal closes, Fox shareholders will own about 73% of the combined company, while Roku shareholders will own the remaining 27%. The move dramatically expands Fox's streaming footprint. Roku reaches roughly 100 million households worldwide and is present in more than half of U.S. broadband homes. Fox already owns assets including Fox News, Fox Business, Tubi, its broadcast network, and major sports rights packages such as the NFL, MLB, NASCAR, Big Ten football, and FIFA World Cup.