Media giant Fox has announced its intent to acquire streaming platform Roku in a deal valued at $22 billion, marking a significant move to expand its digital footprint. The deal, offered at $160 per share in cash and stock, aims to position Fox as the third-largest player in US television viewership by combining traditional broadcasting’s strengths in news and sports with Roku’s extensive streaming platform.

This strategic acquisition reflects Fox’s response to the evolving media landscape, where audiences increasingly favor online streaming over traditional TV viewing. Roku, the leading streaming platform for smart TVs in the US, currently reaches over a quarter of internet-connected devices in the country and serves more than 100 million households worldwide.

Its popular streaming app, the Roku Channel, complements Fox’s streaming service, Tubi, creating a robust portfolio of live content and on-demand entertainment. Fox CEO Lachlan Murdoch emphasized that integrating Roku’s platform with Fox’s live news and sports offerings will reinforce their position in a competitive streaming market, aiming to rival Netflix and Amazon.

The company underscores that despite the growth of streaming, live sports and news remain core to its strategy, highlighting the hybrid nature of modern TV consumption.

Media giant Fox announced its acquisition of streaming platform Roku in a deal valued at $22 billion, marking a significant move to strengthen its position in the shifting landscape of television consumption. The deal, which values Roku at $160 per share through a combination of cash and stock, aims to create the third-largest player in US television audience share by consolidating streaming and live content offerings.

Fox's CEO Lachlan Murdoch described the deal as a natural extension of the company's long-term strategy focused on live news and sports, emphasizing the integration of Roku's streaming technology with Fox's popular services like Tubi. Roku, the leading streaming platform for smart TVs in the US, reaches over a quarter of internet-connected devices and more than 100 million households globally.

Its primary competitors include Amazon Fire TV, Google TV, Apple TV, and Samsung Tizen. Under the acquisition, Roku's streaming service and Tubi will be combined with Fox’s streaming channels to challenge giants like Netflix and Amazon Prime.

Fox is betting that merging streaming with its strong portfolio of live sports and news will keep it competitive as consumer habits shift away from traditional TV viewing.

Fox Corp. has announced a landmark $22 billion cash-and-stock acquisition of Roku, aiming to strengthen its position in the evolving streaming landscape. The deal grants Fox access to over 100 million households worldwide, along with Roku's popular streaming platform and first-party data, enhancing its portfolio of sports, news, entertainment, and Tubi content.

Roku, founded by Anthony Wood—who previously worked at Netflix—has been a major player in streaming since launching its first set-top box in 2008. Wood's motivation was personal, inspired by his love for broadcast recording, and he will continue to serve as CEO and join Fox’s board post-merger.

The combined entity will become the third-largest U.S. TV company by viewership, blending Fox’s live programming with Roku’s digital platform. Fox’s CEO Lachlan Murdoch emphasized that this merger will unify Fox’s traditional media assets with a leading streaming service, providing greater opportunities for advertising and subscription revenue.

The deal is subject to shareholder and regulatory approval, with a closing anticipated in the first half of next year. Fox shareholders will hold approximately 73% of the new company, with Roku shareholders owning about 27%.

Fox Corporation has announced a groundbreaking $22 billion cash-and-stock acquisition of streaming platform Roku, aiming to broaden its digital presence and reach over 100 million households worldwide. This strategic move combines Fox's extensive portfolio—including news, sports, and entertainment—with Roku's popular streaming service and consumer data, positioning the combined entity as the third-largest TV platform in the U.S.

Roku, founded by Anthony Wood, emerged from Netflix's early streaming efforts and launched its first set-top box in 2008, establishing itself as a pioneer in streaming technology. Despite its origins, Roku will continue to operate as an open and partner-friendly platform following the acquisition.

Fox CEO Lachlan Murdoch emphasized the benefits of the merger, highlighting enhanced advertising opportunities and streaming subscriptions, along with increased content reach. The deal, which values Roku shares at $160 each, requires shareholder and regulatory approval and is expected to close in the first half of next year.

Once finalized, existing Fox shareholders will hold about 73% of the combined company, with Roku shareholders owning approximately 27%.

Keanu Reeves has publicly urged a federal judge to show leniency towards his friend and former colleague, Carl Rinsch, who was convicted of embezzling $11 million from Netflix. Rinsch, known for directing Reeves in the 2011 film ‘47 Ronin,’ faces potential prison time after being found guilty of money laundering, wire fraud, and illegal transactions.

Prosecutors detailed how Rinsch misappropriated funds allocated for the unreleased sci-fi series ‘White Horse,’ spending lavishly on luxury cars, jewelry, and personal expenses, while the project remained unfinished. Reeves wrote a heartfelt letter to the court, describing his friendship with Rinsch and their shared experiences, including attending his wedding and witnessing his latest project.

He characterized Rinsch as a talented artist who brings joy and warmth to those around him, and suggested that leniency could serve as a healing gesture, despite acknowledging the gravity of the charges. Rinsch is scheduled for sentencing on June 29, with the possibility of over ten years in prison and obligations to pay restitution and legal fees totaling over $15 million.

Keanu Reeves has publicly urged a judge to show mercy to his longtime friend and fellow filmmaker, Carl Rinsch, who faces over a decade in prison following his conviction for an $11 million Netflix scam. Rinsch was found guilty of federal charges including money laundering, wire fraud, and illegal transactions after allegedly diverting funds intended for the unfinished sci-fi series 'White Horse.' Prosecutors detailed lavish purchases made with the stolen money, such as luxury cars, watches, and real estate, as well as the transfer of funds into cryptocurrency accounts.

Reeves, who directed Rinsch in the 2011 film '47 Ronin,' described their friendship and a project called 'White Horse' that impressed him as a 'superb and visionary work of art.' In a heartfelt letter, Reeves urged the judge for leniency, citing Rinsch’s positive character and contributions to the arts, and suggested that a lesser sentence would be a form of healing. Rinsch, scheduled for sentencing on June 29, could face up to 121 months in prison along with restitution and legal fees, though Reeves’ plea highlights the complex relationship and potential for mercy amidst serious charges.

Keanu Reeves has publicly appealed for mercy for his longtime friend and collaborator, director Carl Rinsch, who faces over a decade in prison following a conviction for defrauding Netflix of $11 million. Rinsch, 48, was found guilty in December of charges including money laundering, wire fraud, and illegal transactions, stemming from a scheme to divert funds for a project that was never completed.

The funds were allegedly spent on luxury vehicles, watches, clothing, and cryptocurrency, with prosecutors revealing that Netflix paid Rinsch $44 million to develop the sci-fi series 'White Horse.' Reeves, who directed Rinsch in '47 Ronin,' wrote a heartfelt letter urging the judge to consider leniency. He described Rinsch as a talented artist and a warm person, emphasizing their friendship and shared artistic endeavors.

Despite the conviction, Reeves expressed hope that mercy could serve as a healing act, acknowledging the seriousness of the crime but also Rinsch’s positive qualities. Rinsch could serve up to 10 years in prison with additional restitution and legal fees.

His sentencing is scheduled for June 29, and prosecutors are seeking restitution and attorneys’ fees totaling over $15 million.

Keanu Reeves has publicly appealed for mercy for his longtime friend and collaborator, director Carl Rinsch, who faces over a decade in prison after being convicted of stealing $11 million from Netflix. Rinsch was found guilty in December on federal charges including money laundering, illegal transactions, and wire fraud, with prosecutors revealing that he used the stolen funds on luxury cars, watches, and cryptocurrency, while the referenced project was never completed.

Despite the conviction, Reeves emphasized their friendship and Rinsch's creative talents in a letter to the court, urging leniency and highlighting his personal warmth and artistic contributions. The case stems from Rinsch's actions related to the sci-fi series 'White Horse,' for which Netflix paid him $44 million, then an additional $11 million, purportedly for completing the project.

Instead, the funds were spent lavishly, and the show remained unfinished. Rinsch’s sentencing is scheduled for June 29, where he could face up to 10 years in prison, restitution, and legal fees. Reeves’s support underscores the complex personal and legal ramifications tied to the case, which continues to unfold in court proceedings.

Keanu Reeves has publicly appealed for mercy on behalf of his longtime friend and colleague, Carl Rinsch, who faces over a decade in prison after being convicted of stealing $11 million from Netflix. Rinsch, a director known for works like '47 Ronin,' was found guilty of federal charges including money laundering, wire fraud, and illegal transactions.

Prosecutors revealed that Rinsch diverted the funds, which were intended for the unfinished sci-fi series 'White Horse,' to purchase luxury items such as a Ferrari, Rolls-Royces, high-end watches, and luxury bedding, and transferred money into cryptocurrency and personal accounts. Despite the conviction, Reeves emphasized their friendship and Rinsch’s contributions to the arts in a letter to the judge, advocating for leniency and highlighting his positive qualities.

Rinsch received a significant payment from Netflix for 'White Horse,' totaling $55 million, but the project was never completed. The streaming giant is seeking restitution along with legal fees, and Rinsch faces up to 10 years in prison.

Sentencing is scheduled for June 29, with prosecutors aiming for restitution and additional penalties. Reeves's plea underscores the complex human and professional bonds involved in this high-profile case, raising questions about redemption and justice in the context of financial and legal misconduct.

Keanu Reeves publicly vouched for his longtime friend and former collaborator Carl Rinsch, who faces over a decade in prison after being convicted of scamming $11 million from Netflix. Rinsch, 48, was found guilty of federal charges including money laundering, wire fraud, and illegal transactions related to a project that was never completed.

Prosecutors detailed how Rinsch diverted funds into luxury purchases, cryptocurrency, and personal accounts, with the streamed series 'White Horse' remaining unfinished despite receiving substantial funding. The actor, who directed Reeves in '47 Ronin,' described Rinsch as a talented and warm individual, urging the judge to consider leniency.

Reeves highlighted their friendship, including attending Rinsch’s wedding and visiting him during development of the 'White Horse' project, which Reeves called 'a superb and visionary work of art.' While Rinsch could face over 10 years, he is set for sentencing on June 29, with Netflix seeking restitution and legal fees. Rinsch’s case underscores the serious consequences of large-scale financial crimes in the entertainment industry, and the actor’s plea adds a personal dimension to the legal proceedings, emphasizing forgiveness and the potential for redemption.

Texas Attorney General Ken Paxton has filed a lawsuit against Netflix, accusing the streaming giant of secretly collecting and monetizing data from users, including children, without consent. The legal action alleges that Netflix uses addictive features like auto-play and detailed logging of user activity to keep viewers hooked, despite publicly claiming not to sell user data or prioritize targeted advertising.

The lawsuit argues that Netflix violated the Texas Deceptive Trade Practices Act by engaging in misleading practices, especially when the company marketed itself as an alternative to other tech firms that monetize user data. It highlights that Netflix began sharing data from children and families with commercial brokers in 2022 to generate revenue, contrary to its promise to offer an ad-free experience.

The Attorney General seeks court orders requiring Netflix to delete deceptively collected data, stop processing user data for targeted ads, and disable auto-play by default on children's profiles. The company has dismissed the allegations as inaccurate and plans to challenge the lawsuit in court amid growing scrutiny over platform habits and the impact of addictive design features on users.

Texas Attorney General Ken Paxton has filed a lawsuit against Netflix, alleging the streaming giant engaged in deceptive and invasive data collection practices. The lawsuit claims Netflix records and monetizes billions of pieces of user behavior data, including sensitive information from children and families, without proper consent.

It accuses the platform of using addictive features like auto-play and extensive logging to keep viewers engaged, effectively undermining its prior claims of respecting user privacy. Netflix has rejected the allegations, stating that the lawsuit is baseless and that it complies with privacy laws worldwide.

The company previously emphasized that it does not collect or sell user data for advertising purposes, contrasting itself with other tech firms. The lawsuit also highlights concerns about Netflix sharing data with third-party brokers to increase revenue, especially targeting children, which it describes as a breach of trust.

Texas seeks court orders for Netflix to delete the data, cease targeted advertising based on deceptive data collection, and disable auto-play by default for kids' profiles. This legal move comes amid broader debates over platform features designed to retain users, such as auto-play and infinite scrolling, which critics argue foster unhealthy screen time habits.

The case underscores ongoing scrutiny of technology companies’ data practices and the importance of safeguarding user privacy, especially for minors.

The state of Texas has filed a lawsuit against Netflix, accusing the streaming giant of secretly collecting data on children and consumers without their consent. The lawsuit highlights concerns over privacy violations and potential breaches of consumer protection laws, raising questions about Netflix's data practices and oversight.

Texas Attorney General Ken Paxton has initiated legal action against Netflix, accusing the streaming giant of secretly collecting data from children and adult users without their consent. The lawsuit alleges Netflix violated privacy laws by unlawfully monitoring user activity, raising concerns about data security and corporate accountability.