Hannity may be absent from your home screen, at least for the time being.
In the wake of significant electoral losses for the narratives pushed by Fox Corporation’s news segment, the company is now broadening its digital footprint. The acquisition of Roku, valued at $22 billion and announced in June, has officially been finalized. This rapid conclusion, occurring just five months after the announcement, is atypical for a deal of this magnitude but was approved by the Trump Justice Department following their review.
Roku boasts over 100 million households worldwide, acting as a conduit to various streaming services like Netflix, YouTube TV, and Disney+. Additionally, it engages in advertisement sales and subscription packages while also owning the streaming platform Tubi. Interestingly, Fox had divested its shares in Roku back in 2020 to finance its acquisition of Tubi.
This acquisition comes on the heels of reports indicating that Fox News experienced a 27% decline in viewership year-on-year for October. In contrast, CNN’s audience slightly increased by 3%, and MS NOW (previously MSNBC) saw a rise of 16%. Despite this drop, Fox News still maintains a larger audience than the combined viewership of CNN and MS NOW.
Anthony Wood, the founder of Roku, will join the board of Fox and will co-lead Fox Digital Platforms, a newly established division that will oversee Roku, Tubi, Fox One, and other digital entities.
While the implications for Roku users remain uncertain, the possibility of Fox leveraging Roku as a platform for its right-leaning agenda raises questions. Fox has pledged that Roku will stay an “open platform” accommodating all content providers. However, concerns focus less on potential service removals and more on the content that will be highlighted on the platform’s home screen.
