Fox sinks following $22 billion Roku deal as streaming stocks get sold off
Fox Class A shares plunged 16.8% to $54.76 after Fox agreed to buy Roku for $160 per share in cash and stock, valuing Roku at $22 billion; investors sold off on concerns about deal size, dilution, and new debt, with the next major catalyst being the SEC proxy/prospectus filing for more details on financing and risks.