Fox Corp. is buying Roku, uniting the media giant with the streaming platform in a deal valued at $22 billion.

Fox said Monday that it is acquiring Roku for $160 per share in a cash-and-stock deal. Once combined, the company will be the third-largest in U.S. television by share of viewing, Fox said. 

The acquisition is expected to be completed in the first half of 2027.

— This is a developing story and will be updated.