Watch Paul and Scarlet LIVE every day on YouTube: http://bit.ly/3vTiACF. Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu -Geetha Ranganathan, Bloomberg Intelligence Analyst on US Media, discusses Fox agreeing to acquire Roku Inc. in a deal valued at about $22 billion including debt, creating a new television juggernaut and marking a big push into ad-supported streaming. -Anurag Rana, Bloomberg Intelligence Technology Analyst, discusses Salesforce agreeing to buy Fin, a firm that develops artificial intelligence-powered customer agents, for about $3.6 billion as the software company works to win new business for enterprise AI. -Mandeep Singh, Global Tech Research Head at Bloomberg Intelligence, discusses the US government ordering Anthropic to disable access to its most advanced AI platforms for all foreign nationals after discovering it&#x27;s possible to &quot;jailbreak&quot; the Fable 5 AI model. -Carmen Reinicke, Bloomberg Equities Reporter, discusses the Bloomberg Big Take story: “The $12 Trillion Stock Squeeze Gives Way to IPO Market Boom.” The US stock market is poised to see a surge in new equity issuance, with IPOs, secondary offerings, and other share sales expected to add roughly $1.5 trillion of stock to the market over the next two years. Companies such as SpaceX, OpenAI, and Anthropic are leading the charge, with plans to raise hundreds of billions of dollars in capital to fund their expansion and meet the enormous spending demands of the artificial-intelligence boom. See omnystudio.com/listener for privacy information.

Fox to Buy Roku at $22 Billion Value in Streaming Video Push 

Bloomberg Intelligence

# Full Transcript

**Podcast:** Bloomberg Intelligence

## Participants

- **Paul Sweeney** (Bloomberg Intelligence)
- **Scarlet Fu** (Bloomberg Intelligence)
- **Geetha Ranganathan** (Bloomberg Intelligence)
- **Anurag Rana** (Bloomberg Intelligence)
- **Mandeep Singh** (Bloomberg Intelligence)
- **Carmen Reinicke** (Bloomberg)

## Transcript

The Big Take podcast from Bloomberg News keeps you on top of the biggest stories of the day. My fellow Americans, this is Liberation Day. Stories that move markets. Chair Powell opened the door to this first interest rate cut. Impact politics. Change businesses. This is a really stunning development for the AI world and how you think about your bottom line.

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Listen on demand wherever you get your podcasts or watch us live on YouTube. It is Monday, which means there's always an M&A deal or two to go over. And the latest one is one in the media space. Fox buying Roku at a $22 billion valuation. Fox shares are lower. That tends to happen. The acquired down 17 percent. In this case, Roku, interestingly enough, is also lowered down by 1 percent. Let's bring in Geetha Ranganathan.

She is our U.S. media analyst here at Bloomberg Intelligence. Geetha, let's start first with what is Fox buying when it acquires Roku? What does it want from Roku here? So what Fox wants, Scarlett, is exposure to digital media. So Fox is one of those legacy media companies that really kind of doubled down on live TV. And if you look at their revenue mix right now, they have about 90 percent exposure to the linear TV ecosystem.

You compare that to some of their peers, even a Paramount Skydance or a Warner Brothers Discovery, which are exposed about 50 to 55 percent. So Fox definitely one of the most heavily exposed. They've, you know, they've played it pretty safe. So they've stayed away from the really expensive streaming wars when everybody was, you know, spending billions, tens of billions of dollars on content to just kind of get streaming subscribers. They stayed away from that.

But they've always kind of been shoring up capital to make this big play into digital, you know, advertising, into digital streaming. And that's exactly what they're doing today with this Roku acquisition. It helps them build up their digital advertising business. And it really helps them win the streaming war in a very unique way because Roku is a streaming aggregator. So Roku gets paid no matter which streaming service wins. And I think that's really a unique benefit here for Fox.

I have to admit, Keith, I'm surprised that the stock is down as much as it is down 16 percent. Why do you think that is? So...

Fox to Buy Roku at $22 Billion Value in Streaming Video Push

Transcript

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Every day you wait, your competitors are finding
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Fox to Buy Roku at $22 Billion Value in Streaming Video Push

Transcript

Built for investment professionals

Every day you wait, your competitors are findingedge in conversations you're not hearing.

Every day you wait, your competitors are finding
edge in conversations you're not hearing.