Fox Is Buying Roku in a $25 Billion Deal
6/15/20262 min
Plus: A new fund backed by LVMH and hundreds of pro athletes makes its first investment: activewear brand Rhoback. And a federal lawsuit alleges that Anthropic oversold the usage allowances of its most expensive subscription plans. Alex Ossola hosts.
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First 90 secondsSpeaker 10:00
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Alex Ossola· Host0:30
[upbeat music] Here is your midday brief for Monday, June 15th. I'm Alex Osula for the Wall Street Journal. Media company Fox Corp is acquiring streaming platform Roku in a twenty-five billion dollar deal. Roku is the largest streaming platform for connected TVs, so the deal will add scale to Fox's streaming business. That could allow it to better compete with the likes of Amazon and Netflix for ad dollars. The transaction is expected to close in the first half of next year. And we should note that Fox and Wall Street Journal parent News Corp share common ownership. We're exclusively reporting that a new fund backed by French fashion giant LVMH and more than two hundred professional athletes is making its first investment. The fund, known as Champ, and a handful of other investors are putting nearly fifty million dollars in activewear brand Robach. Robach has been a hit with the golf community and with Wall Street bigwigs. It's known for its dog logo and sweat-wicking polos. It has a single retail store in Virginia, and Robach's