Fox to Acquire Roku, Joining the Battle for the Living Room

Fox Corp., the parent company of Fox News and the Fox broadcast network, is buying the streaming company Roku for $22 billion, a major deal that would make the Murdoch media empire a formidable contender in the streaming wars.

The cash-and-stock deal, if approved, would be the biggest bet so far for Lachlan Murdoch, the media scion who took over for his father, Rupert Murdoch, in a succession drama that culminated in September after an operatic legal battle with his siblings. It would give Fox Corp. a foothold in more than 100 million households that stream content using devices powered by Roku, whose distinctive black-and-purple remotes are common in living rooms around the world...