Fox Corp. announced on Monday that it is acquiring the streaming platform Roku in a cash-and-stock deal valued at approximately $22 billion.
Fox announced the deal in a news release, noting that the company will pay $160 per share in a combination of cash and Fox Class A common stock.
The deal is expected to close during the first half of 2027, CNBC reported. After the deal closes, existing Fox shareholders are expected to own about 73% of the combined company, with Roku shareholders holding approximately 27%.
Fox Corp. is making a dramatic move to expand its streaming footprint, unveiling with plans to buy Roku in a deal that values the streaming platform at $22 billion.https://t.co/ANyTa2KsiX
— Variety (@Variety) June 15, 2026
The transaction combines Fox’s sports, news, and entertainment content and its Tubi streaming service with Roku’s connected television platform, The Roku Channel, first-party data and direct relationship with more than 100 million global streaming households, according to The Hollywood Reporter.
Roku, founded in 2002, was one of the first companies to bring streaming platforms like Netflix and YouTube to television via connected devices and smart televisions, CNBC reported.
In a statement, Fox Corp. CEO Lachlan Murdoch called the deal “a defining moment” for Fox.
“In 2019, we reoriented the company around live news and sports. In 2020, we acquired Tubi and under our stewardship it has become one of the most successful businesses in streaming,” Murdoch said. “Today, we take the next step: bringing together the most valuable live content portfolio in video consumption with the preeminent streaming platform through which America watches it.”
On a pro forma basis, the deal will make the new company the third-largest player in U.S. television by share of viewing, Variety reported.
Advertising is Roku’s largest component, with revenue of $613 million during the first quarter, up 27% year-on-year, according to CNBC.
“I’m incredibly proud of what our team has built, and the combination with Fox is an extraordinary opportunity to accelerate our vision, scale faster and innovate more aggressively for viewers, partners and advertisers,” Roku founder and CEO Anthony Wood said in a statement. “I couldn’t be more excited about what we’ll accomplish together.”
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