Fox Corporation Class B (NASDAQ:FOX) secured a $1.0B term loan to back its proposed $22B bid for Roku, aiming to fold Roku into its ad-supported portfolio alongside Fox and Tubi; Wolfe Research upgraded FOX to Outperform and set a $71 price target.
Previous Week Recap
- Fox Secures $1B Term Loan: Fox Corp Class B (FOX) secured a $1.0B senior unsecured term loan on June 30, 2026 to help fund its Roku bid; two-year maturity post-close, interest Base Rate or SOFR plus margin, covenants apply.
- Fox Plans $22B Roku Bid: Fox Corp plans a $22B bid for Roku to add its streaming platform and create a second ad-supported service alongside Fox networks and Tubi; deal implies higher valuation for Roku than FOX stock.
- Wolfe Upgrades Fox To Outperform: Analyst Wolfe Research upgraded Fox Corporation Class B (FOX) to Outperform from Peer Perform and set a $71.00 per-share price target.
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