Fox Corp Stock Drops 24.9% After Announcing $22 Billion Acquisition of Roku
Shares of Fox Corp (FOX) fell by 24.9% following the announcement of a $22 billion acquisition deal for Roku, which will be funded through cash and new debt as well as issuing additional shares. The move aims to strengthen Fox's position in the streaming TV market but has raised concerns among investors due to potential shareholder dilution and increased leverage.