Newsmax pressures DOJ to block Fox’s $22B Roku deal, Semafor reports

Investing.com -- Newsmax Inc (NYSE: NMAX) Chief Executive Chris Ruddy is pressing the Justice Department to block Fox Corp's (NASDAQ: FOX) proposed $22 billion acquisition of Roku Inc (NASDAQ: ROKU), leveraging White House access to escalate a regulatory battle against his larger rival.

According to communications viewed by Semafor and individuals familiar with the matter, federal antitrust enforcers expanded their investigation into the deal’s impact on streaming competition following outreach from Ruddy and his allies. The pressure campaign comes as Newsmax continues to pursue refiled antitrust litigation against Fox, alleging the network used exclusionary distribution deals to suppress smaller conservative competitors on streaming platforms.

Though previous attempts to derail major media transactions, including the Nexstar-Tegna combination, ultimately fell short, Ruddy’s access to President Donald Trump ensures his challenges command serious attention from corporate legal teams. For Fox, the expanded DOJ review creates an unexpected hurdle in its strategy to secure control over Roku’s dominant streaming architecture.

Original Article

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