Brayden Dennis

So it's always that ratio of cash and stock, and it's actually quite close.

The 160 is more like the kind of headline number.

It's not necessarily like the value that will be attributed to the actual closing of the transaction.

And for those not familiar with Roku, it's one of the biggest connected TV platforms in the U.S.

And I think worldwide as well.

It gives more control to Fox over how viewers access streaming content.

And by buying Roku, Fox gets a platform that has more than 100 million users worldwide.

And I think it's around 80 in the U.S.

And it will enable them to leverage that platform along with their existing assets like a Fox News, Fox Sports, Tubi, which I was not familiar with.

I started looking at it.

It's an ad supported streaming service.

And the strategic logic is that in media, owning content is no longer enough.

You want also to have a platform where people discover and watch that content.

You're able to feed them ads.

And the concern from investors is definitely the price here, considering that Roku has very low margins.

And it's also been the stock has definitely been in the gutter a little bit since the pandemic.

I think it peaked around $450, $500 a share.

Yeah.

Yeah.

People were watching TV because what else could you do?