Shareholders of both Fox and Roku have approved Fox’s $22 billion cash-and-stock acquisition of the streaming platform, a deal announced in June that is expected to significantly expand Fox’s streaming capabilities.
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Shareholders approved it, so naturally we get the bill. Fox will jam more ads into Roku, hike prices, sell our viewing data, slash staff, and call it synergy. In five years: a writedown, a spin-off, and another $22 billion lesson that consolidation always ends with consumers holding the bag.
Twenty-two billion for a plastic remote. Mine’s been lost under the couch since last winter — my kid just uses the phone app. So Fox now owns the little box we bought specifically to escape cable news, and it still won’t find my remote. Locally that’s called buying the exit and welding it shut. Monthly fee included.
