Investing.com -- Roku Inc. (NASDAQ: ROKU) shares jumped as much as 20% Friday following a Bloomberg report that the streaming platform company has held discussions with at least one U.S. media company about a potential sale.

The San Jose, California-based company has been in talks about a possible combination, according to people familiar with the matter cited by Bloomberg. No final decisions have been made, and the discussions may not result in a transaction, the sources said.

A representative for Roku did not immediately respond to a request for comment on the report.

The streaming platform provider has been navigating a competitive landscape as traditional media companies and tech giants vie for position in the streaming market. Roku operates a platform that allows users to access various streaming services through its devices and software.