Fox completes its $22 billion acquisition of Roku

Fox has completed its $22 billion acquisition of Roku, one of the biggest media deals in recent years, TechCrunch reports. The deal, announced on Friday, brings the streaming company founded in 2002 formally under Fox's ownership; Fox says the combined company now ranks as the third-largest television business in the U.S. by viewership. "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," said Roku founder Anthony Wood. For Fox, the purchase brings direct access to Roku's reach of more than 100 million households, which it expects to sharpen advertising targeting, strengthen its position in connected TV and reduce its reliance on traditional distribution. The close came two months after the Justice Department issued a second request for information from both companies.