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​Fox Corporation (NASDAQ:FOX) is one of the undervalued stocks with high upside potential. On June 15, Fox Corporation announced a definitive agreement to acquire Roku (NASDAQ:ROKU) in a cash-and-stock transaction valued at approximately $22 billion. The deal values Roku at $160 per share, uniting Fox's portfolio of live sports, news, and the Tubi streaming service with Roku's connected TV platform, which currently reaches over 100 million global households.

This merger creates a scaled media and technology entity positioned to capitalize on the shift toward streaming while maintaining the strength of live broadcast content. By combining their respective streaming assets, Tubi and The Roku Channel, the new organization will become one of the largest players in the US television market by share of viewing, operating across broadcast, cable, and streaming environments.

The companies have committed to maintaining Roku as an open, partner-friendly platform and ensuring broad distribution for ​Fox Corporation's (NASDAQ:FOX) content. Fox expects the acquisition to enhance its monetization capabilities and reach, while assuring shareholders that its capital return program and investment-grade credit rating will remain uninterrupted throughout the integration.

​Fox Corporation (NASDAQ:FOX) operates as a news, sports, and entertainment company in the United States across its Cable Network Programming, Television, Credible, and The FOX Studio Lot segments.

While we acknowledge the potential of FOX as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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