Fox shares gain as Bank of America upgrades to Buy on Roku deal

Bank of America upgraded Fox to Buy, raising price target to $85 from $54. Roku acquisition expected to add nearly $700 million to annual EBITDA by 2028. Combined entity projected to generate high-single-digit revenue growth vs low-to-mid single digit standalone. Cost savings target of $400 million represents 10% of combined SG&A and corporate costs.

DOJ reportedly probes Fox's $22 billion Roku acquisition

DOJ reportedly issues second request for documents on Fox-Roku deal. Deal valued at $22 billion enterprise value with $160 per share offer. Rivals cite concerns over Fox favoring its own content on Roku platform. Fox plans to keep Roku and Tubi services operating separately.

FCC Chair hints at blocking streamers from 2030 World Cup rights

FCC Chair Brendan Carr indicated that streaming services like Netflix, Amazon, and ESPN could be blocked from bidding on the 2030 and 2034 World Cup rights to ensure games remain free-to-air. The comments follow record viewership for the 2026 tournament, which fetched $485 million from Fox and $600 million from Comcast. Future rights are estimated to be worth up to $2 billion, but regulatory pressure may force streamers to partner with broadcasters.

Fox, Comcast secure record ratings, ad revenue from 2026 World Cup

Fox Corporation and Comcast Corporation have achieved record ratings and significant advertising revenue from the 2026 World Cup, with Fox paying $485 million and Comcast $465 million for media rights. The tournament generated NFL-like viewership, including a peak of 34.8 million viewers for the USA vs. Bosnia-Herzegovina match, and an estimated $850 million in ad spend. Apple Inc. may also see a boost in MLS viewership due to heightened soccer interest.

Eisman questions Fox's $22B Roku deal valuation

Fox Corporation is acquiring Roku Inc. for $22 billion in a cash-and-stock deal, but investor Steve Eisman has criticized the valuation, noting Fox's 10x PE ratio versus Roku's 57x. The transaction offers $160 per share and aims to combine Fox's content with Roku's distribution platform. Despite projected synergies, the deal faces skepticism over its high price tag.

World Cup 2026 may boost Fox ad revenue and Apple viewership

The 2026 World Cup begins June 11 with 48 teams competing. Fox Corp and Telemundo, a unit of Comcast Corp, could generate $850 million in advertising spend. Apple Inc may see increased viewership for its MLS streaming service, boosted by a strong Team USA performance.