(Bloomberg) — Roku Inc. and Fox Corp. climbed Monday after inking a new distribution agreement over the weekend, preventing a potential blow to viewers’ ability to stream Sunday’s Super Bowl broadcast.
The settlement, clearing the way to air FOX channels on the Roku platform, brings an end to a fleeting dispute between two entities approaching the media business differently. Roku is focused on maintaining leadership among streaming platforms, while Fox is banking on exclusive broadcast rights to marquee sporting events similar to last night’s matchup, which saw the Kansas City Chiefs defeat the San Francisco 49ers, 31-20.
Shares in Roku rose as much as 6.6%, the most in two months, as of 12:27 p.m. in New York. Fox Class A shares gained 2.5% intraday.
More on the matter: Roku Falls as Fox Dispute Threatens Users’ Super Bowl Sunday
“Roku customers can stream the Super Bowl through FOX Now, Fox Sports and NFL in addition to other ways,” Roku said in a statement Feb. 1.
The move is an about-face for Roku, which fell to its lowest in more than two months on Friday after notifying customers that FOX channels wouldn’t be accessible on its platform ahead of the network’s Super Bowl coverage.
(Updates shares, adds chart, removes analyst commentary.)
To contact the reporters on this story: Kamaron Leach in New York at [email protected];Hailey Waller in New York at [email protected]
To contact the editors responsible for this story: James Ludden at [email protected], Matthew G. Miller, Scott Schnipper
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