Fox Closes $22B Roku Buy, Shuffles Execs
Fox takes control of Roku's platform reaching 100 million households, with several execs exiting after the deal.
TL;DR
- Fox closed its $22 billion acquisition of Roku.
- Roku reaches over 100 million US households.
- Multiple leaders including Anjali Sud and Charlie Collier are exiting.
Fox has closed its $22 billion buy of Roku, giving the media giant direct control over one of the biggest streaming platforms in the US.
The platform reaches more than 100 million households. Fox plans to push its sports, news and local channels through it while keeping Roku’s open approach to other content partners.
Paul Cheesbrough now runs the new Fox Digital Platforms unit as co-chair and CEO. Roku founder Anthony Wood joins the Fox board as co-chair alongside him. Roku itself will be led by Mustafa Ozgen.
Other parts of the combined business include Tubi, Fox One and Frndly TV under Pete Distad, plus Red Seat Ventures and Credible with their own CEOs.
“Fox has a deep respect for Roku’s culture and wholly shares our commitment to staying open to every content partner.”
Several leaders are leaving. Tubi CEO Anjali Sud is stepping away after a transition. Roku Media president Charlie Collier is also exiting, along with general counsel Chris Handman and AdRise executive Robyn Peterson.
On the staying side, Mike Bidgoli becomes Tubi president. Frndly TV’s Andy Karofsky and The Roku Channel content head Lisa Holme will report to Distad. Melody Hildebrandt remains chief technology officer while Jeff Dow retires at fiscal year end. Ad sales now report to Jeff Collins.
The Tea
Fox just bought the front door to a huge chunk of living-room screens. The real test will be whether the Murdoch crew can keep Roku’s open vibe while stuffing it with their own stuff.