Why Fox Corp Stock Sank 24.9% This Week
The media giant is making a large acquisition into the connected TV space.
Why Fox Corp Stock Sank 24.9% This Week
Overview
Shares of Fox Corp (NASDAQ: FOX) sank 24.9% this week, according to data from S&P Global Market Intelligence. The TV and live sports giant made a splash by announcing an acquisition of Roku (NASDAQ: ROKU) for $22 billion in a cash and stock deal.
Here's why investors are soured on the deal, and whether it gives investors a buying opportunity into the streaming TV market.
Details
Roku is being acquired by Fox in a cash-and-stock deal with an enterprise value (which accounts for Roku's net cash on its balance sheet) of $22 billion. 60% of the deal will be in cash, funded by new debt taken on by Fox and by issuing new shares of Fox.
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.
