Fox Corporation will acquire the streaming-device maker Roku in a cash-and-stock deal that values the company at about $22 billion, the two companies announced on June 15. The deal pairs Fox’s sports, news, and entertainment with Roku’s connected-TV platform and its reach into more than 100 million streaming households.
Fox will pay $160.00 a share, made up of $96.00 in cash and 0.9693 Fox Class A shares for each Roku share, according to Variety. Fox shareholders would own about 73% of the combined company and former Roku holders about 27%. Both boards approved the transaction, which is subject to shareholder and regulatory approval and is expected to close in the first half of 2027.
The companies said the combination would become the third-largest player in U.S. TV viewing by share. Fox brings its live sports and news, along with the free, ad-supported service Tubi and its more than 100 million monthly users; Roku brings the Roku Channel, its first-party viewer data, and direct relationships with streaming homes worldwide. Bloomberg put the value of the deal at roughly $22 billion.
Lachlan Murdoch, Fox’s chief executive, called the agreement “a defining moment for Fox, and a natural extension of the deliberate and focused strategy we have been executing for nearly a decade.” Roku’s founder and chief executive, Anthony Wood, said the company had spent two decades building “the leading TV streaming platform, reaching more than 100 million households globally.”
Fox said it would run Roku as an “open, partner-friendly platform,” according to The Hollywood Reporter, and that Wood would keep a role at the business and join Fox’s board once the deal closes.
The purchase extends a streaming push Fox built around Tubi, which it has positioned as a counterweight to subscription services, and gives the broadcaster the hardware and software layer that sits between viewers and apps. The deal still needs sign-off from Roku shareholders and regulators before its expected 2027 close.
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