Fox agrees to buy Roku in $22 billion streaming deal
Fox Corporation has agreed to acquire Roku for roughly $22 billion in enterprise value, the companies announced on June 15. Roku shareholders will receive $160.00 per share — $96 in cash plus 0.9693 shares of Fox Class A stock — leaving existing Fox holders with about 73% of the combined company and Roku holders with 27%. Roku founder and chief executive Anthony Wood will keep a role and join the Fox board.
The logic is distribution. Fox owns sought-after live sports and news rights and the free, ad-supported Tubi service, but it has lacked a platform of its own; Roku supplies an operating system on tens of millions of TVs, the Roku Channel, and first-party viewing data on more than 100 million households. Buying the pipe lets Fox steer viewers to its own apps and sell advertising against Roku’s audience data rather than renting that reach from a third party.
The deal would also tighten the link between a major content owner and a neutral hardware platform that today carries rival streaming apps, which is likely to draw antitrust scrutiny over how Fox prioritizes its own services. The boards of both companies have approved the transaction, which is expected to close in the first half of 2027 subject to shareholder and regulatory clearances.