Fox Buys Roku for $22 Billion as Netflix Loses Bidding War
Updated
Updated · The Motley Fool · Jun 17
Fox Buys Roku for $22 Billion as Netflix Loses Bidding War
3 articles · Updated · The Motley Fool · Jun 17
Summary
$22 billion is the price Roku accepted from Fox, ending a contest in which reports said Netflix pushed up the final valuation but did not submit a formal bid.
Netflix appears to have walked away on valuation and strategy, echoing its earlier discipline after exploring a much larger Warner Bros. Discovery deal.
Roku was a harder fit for Netflix because owning a device platform could have invited antitrust scrutiny and complicated content ties with partners such as Sony and Amazon.
The outcome suggests Netflix is now more willing to explore acquisitions, but still avoids deals that are too expensive or strategically messy; reports now point to Lionsgate Studios as a possible smaller target.