Why Acquiring Roku Could Solidify Facebook’s Video Strategy
Facebook has already begun digging into the TV space with Facebook Watch, so what might the social media company’s next move in video be?
Jesse Redniss, Chief Innovation Officer of Turner’s TBS and TNT networks, predicts the company might buy Roku.
“Facebook has been trying to be getting into the video space for quite sometime now,” he told Cheddar in a recent interview. “When you look at Facebook’s track record of growth, the acquisition of Insta, WhatsApp, Oculus. In some ways, in order for them to really scale into a marketplace, it’ll make a lot of sense for them to buy one of the leaders in a marketplace they want to get into.”
Roku shares fell steeply Friday after Goldman Sachs downgraded the stock, saying the streaming company is overvalued. Still, the company is trading well above its IPO price, and posted a 48 percent increase in active accounts in the third quarter, as well as a 58 percent increase in streaming hours.
For full interview [click here](https://cheddar.com/videos/a-bold-prediction-on-why-facebook-would-acquire-roku).
The Food and Drug Administration has issued an emergency use authorization for what it says is the first device that can detect COVID-19 in breath samples.
Catching you up on what you need to know on April 15, 2022, with four of the victims from the Brooklyn subway shooting still hospitalized as the suspect is held without bail, Russia resumes attacks on Kyiv, teachers across the country receive their largest pay raises in decades, and more.
The major U.S. indexes closed Tuesday off of session lows as investors digest the latest read on inflation, showing it remains hot. Wall Street is also preparing for earnings from big banks and monitoring potential policy moves from the Federal Reserve. Peter Tuchman, a stock trader at TradeMas, joins Cheddar News' Closing Bell and highlighted tech stocks in particular. 'The tech sector, which led us to record highs before the 1st of this year, are now the ones that are leading us lower,' he said.
Billionaire Elon Musk made waves after revealing he's making an attempt at a hostile takeover of the social media platform Twitter. The Tesla CEO is offering $43 billion to buy the social media platform outright with "freedom of speech" allegedly at the forefront of his agenda. Dan Ives, managing director of equity research at Wedbush Securities, is taking the tech entrepreneur seriously. "I think through many twists and turns over the coming months, he ultimately ends up owning Twitter because Twitter's board, their back is going to be against the wall," he said.
