DOJ Expands Antitrust Probe into Fox-Roku $22 Billion Deal

The U.S. Department of Justice has expanded its antitrust investigation into Fox's $22 billion acquisition deal for the streaming platform Roku. Following the news, Roku's shares dropped by around 2%. This second request involves more data and documents as the DOJ scrutinizes the transaction's potential impact on competition.

The U.S. Department of Justice has intensified its antitrust investigation into Fox Corporation's $22 billion acquisition deal for streaming platform Roku, according to a report by Semafor on Tuesday. The inquiry is set to escalate as the DOJ issues a "second request" for more detailed information from the involved parties.

Following the news, Roku's shares dropped approximately 2% in after-hours trading, signaling investor concerns over potential regulatory hurdles. The DOJ aims to gather further data and documents as part of this extended review process, emphasizing the scrutiny of the transaction's impact on competitive practices in the media market.

While Fox announced the acquisition in June, predicting it would bolster its advertising capabilities and enhance its online reach, neither Fox, Roku, nor the DOJ have provided immediate comments on the development of the investigation, as reported by Reuters.