Fox has announced that it’s acquiring Roku outright, in a deal that values the streaming company at $22 billion.

The deal will see Fox’s TV networks and Tubi streamer combine with Roku’s network of streaming devices, smart TV software, and The Roku Channel. The companies say in a statement that by combining they’ll become the third-largest player in the US TV industry by viewing share.

It doesn’t sound like the plan is to build Roku and Fox into a walled ecosystem. The two companies are “committed” to keeping Roku an open-platform that works with other content providers, and to the “continued ubiquitous distribution” of Fox’s own content.

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Read the full story at The Verge.

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