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Fox Completes $22B Acquisition of Roku
· Confirmed
In Short: Fox Corporation has completed its $22 billion acquisition of Roku, bringing together its streaming assets with Roku's platform.
Fox Corporation has completed its $22 billion acquisition of Roku, bringing together its streaming assets with Roku's platform. The deal was announced in June and was expected to close in the first half of 2027, but it was completed ahead of schedule on November 6.
Roku founder and CEO Anthony Wood expressed optimism about the future, stating, “We started Roku more than two decades ago to give people a better way to watch TV, and that mission doesn’t change today. What does change is our reach and resources. FOX has a deep respect for Roku’s culture and wholly shares our commitment to staying open to every content partner.”
Under the terms of the transaction, Roku shareholders will receive $95.30 in cash and 0.9799 shares of Fox Class A common stock for each Roku share held before the merger. This deal values Roku at roughly $22 billion, with Fox paying $160.00 per share in cash and stock, according to Fox’s own filing.
Fox shareholders now own approximately 74 percent of the combined company, while former Roku shareholders hold approximately 26 percent. The transaction brings together Fox’s live sports, news, and local programming with Roku’s streaming distribution platform, which reaches more than 100 million households worldwide.
Fox anticipates that the acquisition will increase free cash flow per share by the second full year following completion and generate about $400 million in annual cost savings within two years.
Roku will continue to license its operating system to Smart TV makers around the world and will remain “a leading open ecosystem for the broader streaming industry,” according to the company.
The deal also unites two free ad-supported streaming television (FAST) brands, The Roku Channel and Tubi, with SVOD platforms Fox One and Fox Nation, capturing a 5.3% share of the U.S. Streaming market.
Fox Corp. Executive chair and CEO Lachlan Murdoch said acquiring Roku advances the media company’s long-term strategy and will continue to “relentlessly serve audiences and partners, while reinforcing the openness and choice that is the essence of the Roku platform.”
Roku’s open distribution platform will continue operating as an ecosystem serving more than 100 million households worldwide, with access to thousands of apps and channels.
The deal was cleared by the Department of Justice after a review that analyzed whether the deal would harm competition among free, ad-supported streaming providers and disadvantage Fox’s content rivals who partner with Roku.
However, the acquisition has raised concerns among some users, particularly regarding the future of popular Roku screensavers. One developer, who created the popular “Aquatic Life” screensaver, announced he would not be renewing Roku’s license after the acquisition.
Background
Fox Corporation has completed its $22 billion acquisition of Roku, bringing together its streaming assets with Roku's platform.
What's confirmed
- Consequently, FOX stockholders now own roughly 74% of the company, while former Roku holders own about 26%.
- Fox Corporation said Thursday it has completed its acquisition of Roku, a deal the company says expands its streaming footprint and gives it control of one of the largest open connected TV platforms in the U.S. Fox said the combined company brings together its live sports, news and local programming with Roku’s streaming distribution platform, which reaches more than 100 million households worldwide.
- Existing Fox shareholders now own approximately 74 percent of the combined company, while former Roku shareholders hold approximately 26 percent.
- Under the terms of the transaction, Roku shareholders will receive $95.30 in cash and 0.9799 shares of Fox Class A common stock for each Roku share held before the merger.
- Fox Corporation has successful completed its $22 billion acquisition of Roku.
- He will also serve as co-chair, FOX Digital Platforms, the newly formed division that includes Roku, Tubi, FOX One, Red Seat Ventures, and other digital products and services across the company, alongside Paul Cheesbrough, who assumes the role of co-Chair and CEO, FOX Digital Platforms.
- The transaction, announced as completed November 6, gives Fox access to Roku’s connected TV platform, which serves more than 100 million households worldwide, while expanding the media company’s presence in streaming distribution, digital advertising and technology.
- The company also anticipates that the acquisition will increase free cash flow per share by the second full year following completion.
- It also stresses that Roku will continue to licence its operating system to Smart TV makers around the world and will remain “a leading open ecosystem for the broader streaming industry”.
- When Fox announced the deal on June 15, it said Roku founder and CEO Anthony Wood would keep a role at the combined company and join Fox's board, and that the close was expected in the first half of 2027 [3].
- This article was published on June 15, 2026 GMT The deal closed today, and Roku now sits in a new division with Tubi and Fox One.
- Together, Tubi and Roku accounted for 4.8% streaming viewership in August — tying with Disney’s streaming share and trailing behind Netflix and YouTube, per Nielsen.
What's still developing
- In its most recent earnings report, Roku reported adjusted EBITDA of $248.8 million, a 113% year over year gain.
- “Our teams will keep building and innovating as they always have, now with the support and capabilities of Fox behind us.” For Fox, the move provides direct access to Roku’s reach of more than 100 million households.
- As a result, Roku shares are no longer trading on the Nasdaq.
- Fox confirmed the closing in a Form 8-K filed with the US Securities and Exchange Commission, stating the report was filed “in connection with the completion” of the previously announced acquisition on the same date, the filing shows.
- Guggenheim Securities software equity research analyst John DiFucci discusses his market picks and recent activity on Wall Street on 'Making Money.' Fox Corp. announced on Friday that it completed its acquisition of Roku to expand its streaming presence that already includes Tubi and FOX One.
- The company said the acquisition will accelerate its digital strategy and deepen its presence in high-growth streaming and connected TV businesses.
- He developed the screensaver through his company SereneScreen.
- He tells Ars Technica that the licensing agreement with Roku is up for renewal every October and can be canceled by either party for any reason.
- A day after learning that Fox was planning to buy Roku, a deal that closed today, Sachs told Prolific that he wouldn’t be renewing Roku’s license.
- When asked what his biggest concerns about Fox buying Roku are, Sachs said: It seems that Fox simply wants another venue for spreading their philosophy, which I consider repugnant.
- Based out of New York, Mark has also contributed to ADWEEK.
- Reflecting on Roku’s acquisition, Woods said in a statement that he was proud of what his team has built and that combining with Fox provides an opportunity to accelerate its vision, scale faster, and be more aggressive in innovation for its respective audiences.