Fox bought Roku

Fox has officially closed its $22 billion acquisition of Roku, the companies announced on Friday. With Roku under its umbrella, Fox now controls a major streaming platform that reaches more than 100 million households in the US.

First announced in June, the deal will allow Fox to bring Fox Sports, news content, and local stations to Roku. “I would expect that we can grow our viewership in the US with a combination of Roku technology, Roku’s platform, the tremendous content that’s on the Roku channel, and the content that Fox brings to it as well,” Fox CEO Lachlan Murdoch said at the time. Along with Roku, Fox also operates its own Fox One streaming service and the free streamer Tubi.

Though the deal might change what Roku showcases on its platform, it doesn’t look like it will affect the open nature of its streaming ecosystem. “We started Roku more than two decades ago to give people a better way to watch TV, and that mission doesn’t change today. What does change is our reach and resources,” Roku founder Anthony Wood said. “Fox has a deep respect for Roku’s culture and wholly shares our commitment to staying open to every content partner.” Wood now serves on Fox’s board of directors.