
Lachlan Murdoch, CEO of Fox Corp., is focused on expanding his father Rupert’s media business for the streaming age. After selling much of its entertainment division to Disney, Fox used the funds to grow, and a key move was acquiring Tubi in early 2022. This positioned Fox at the forefront of free ad-supported streaming television (FAST). Since then, they’ve invested in content like TMZ and sports broadcasting, as well as their own subscription service, Fox One.
Roku is crucial because it provides access to a large audience. Traditionally, reaching viewers meant owning broadcast networks or cable channels. Now, success requires a mix of traditional TV, subscription streaming, FAST apps, and platforms like Roku. Fox already had the first three covered; purchasing Roku completes their distribution strategy.