Source: Roku
Netflix might be changing its mind about adding a device to its stable. The company is reportedly in talks with Roku to acquire its business. Citing sources familiar with the company, Roku employees have allegedly had their trading window shut for selling Roku stock. This typically happens when information could be released that would affect its stock. It's meant to prevent insider trading. Roku's stock has dropped nearly 80% since July 2021 due to weak demand for its streaming hardware.
The streaming service's potential acquisition is reportedly a "focus of internal chatter" at the company. This report comes after it was a target of an acquisition last year. Neither company has yet to confirm the rumours. But Netflix itself is facing stock falls due to fierce competition from the likes of Disney, HBO Max, and more. Netflix has recently confirmed plans to adopt a cheaper ad-supported plan, so bringing in Roku, which has experience in the market, can possibly help them out.