Fox Corporation announced on June 15, 2026, it is acquiring Roku for approximately $22 billion in a cash-and-stock deal valued at $160 per share [1, 2, 3]. The agreement is expected to close in the first half of 2027 [1, 2, 3].
Upon closing, Fox shareholders will own about 73% of the combined company, with Roku shareholders holding roughly 27% [1, 2, 3]. Fox paid about $22 billion for Roku, reflecting confidence in Roku’s streaming business, which serves over 100 million households in the US [1, 3, 4].
Roku generates revenue primarily through advertising and subscriptions on its streaming apps and The Roku Channel [1, 3, 4]. In the first quarter of 2026, Roku’s advertising revenue rose 27% year-on-year to $613 million [1, 3]. Fox already owns Tubi, a free ad-supported streaming platform it acquired for $440 million in 2020 [1, 5].
Fox CEO Lachlan Murdoch called the deal a "defining moment" that combines "the most valuable live content portfolio in video consumption with the preeminent streaming platform through which America watches it" [6]. Roku CEO and founder Anthony Wood will remain with the company and join Fox’s board, saying he is "incredibly proud of what our team has built" and that the deal is "an extraordinary opportunity to accelerate our vision" [7].
Fox secured a $12 billion loan to finance the acquisition [7]. After the announcement, Fox shares fell about 8-14% in premarket trading, while Roku shares rose slightly or were halted temporarily [1, 3, 5].
The combined company will become the third-largest player in US television by share of viewing [1, 3, 4]. The acquisition is expected to close by mid-2027 [1, 2, 3].
