Fox Corp Plans $22B Roku Purchase as ARK Sells $77.6M Stake
ROKU•Cathie Wood’s ARK Innovation ETF sold about 561,800 Roku shares worth $77.57 million, signaling reduced exposure to streaming hardware and a pivot to AI and cloud names. Fox Corp. plans a $22 billion acquisition of Roku to bolster its streaming reach through Roku Channel ad and subscription revenue shares.
1. ARK Invest Slashes Roku Position
ARK Innovation ETF reduced its Roku holdings by selling 561,800 shares valued at $77.57 million, marking the largest single daytime sell-off in its streaming portfolio. This transaction underscores the fund’s reallocation toward AI, cloud software and Tesla-linked growth stocks over streaming hardware and platform risk.
2. Fox Corp's $22 Billion Roku Deal
Fox Corp. unveiled plans to acquire Roku for $22 billion, aiming to leverage Roku’s 20% subscription and 30% advertising revenue share from major streaming services. The deal is expected to expand Fox’s streaming footprint, combining Fox One and Roku Channel to enhance viewer reach and monetization.
