Fox to acquire Roku in $22 billion streaming deal
7 verified10 unconfirmed1 contested
Fox Corporation has agreed to acquire Roku in a cash-and-stock deal valued at approximately $22 billion, the companies announced on Monday. The transaction gives Fox access to Roku’s platform, which is used by more than 100 million households worldwide, and combines Fox’s live sports and news content with Roku’s streaming hardware and advertising business. Under the terms, Roku investors will receive $160 per share, consisting of cash and Fox Class A shares. The combined company is expected to become the third-largest player in US television by viewership. Roku CEO Anthony Wood will remain with the merged entity, and the deal is expected to close in the first half of 2027. Fox’s existing streaming service, Tubi, will operate alongside Roku’s free ad-supported channel, as executives said the two platforms would remain separate for now.
What’s verified
Fox Corp is acquiring Roku in a cash-and-stock deal valued at about $22 billion.
Roku investors will receive $160 per share in the transaction.
Fox gains access to Roku’s platform, used by over 100 million households.
The combined company is projected to become the third-largest player in US television by viewership.
Roku CEO Anthony Wood will have a role at the combined company after the deal closes.
The acquisition is expected to close in 2027.
Fox’s streaming portfolio includes Tubi, a free ad-supported service, which will remain separate from The Roku Channel.
Where accounts differ
Sources differ on Roku’s first-quarter advertising revenue. One source reports $613 million in advertising revenue, while another states $371 million. A third source reports $613 million in advertising revenue alongside $519 million in subscription revenue.
Not yet confirmed
Only one source reports that Fox shares fell 8% in premarket trading and Roku shares rose 2.6% to $147.50, trading below the offer price.
Only one source states that the boards of both companies unanimously approved the deal.
Only one source estimates the deal will generate about $400 million in annual cost savings.
Only one source details Fox’s financing plan, including $12 billion in committed bridge financing from Morgan Stanley.
Only one source says Fox shareholders will own roughly 73% of the combined company.
Only one source notes that Roku’s hardware business lost $19.1 million in the quarter ending March 31, 2026.
Only one source mentions that Roku became profitable in 2021 due to the pandemic but did not see annual profitability again until 2025.
Only one source reports that one-third of Tubi viewers overlap with The Roku Channel’s audience.
Only one source raises potential political implications due to Fox’s ownership and recent media acquisitions.
Only one source describes Roku’s new paid subscription services, Frndly ($6.99/month) and Howdy ($2.99/month).
Key figures
Lachlan Murdoch, CEO and chairman of Fox Corp
Anthony Wood, CEO and founder of Roku
Paolo Pescatore, analyst at PP Foresight
Dan Rayburn, streaming media analyst
Jeff Chester, executive director of the Center for Digital Democracy
Sources: The Guardian, Ars Technica, The Verge
