Fox Corp. has completed its $22 billion acquisition of Roku, giving the broadcaster access to a streaming platform reaching more than 100 million US households.
Fox Corp. has completed its $22 billion acquisition of Roku, the companies announced on Friday, November 6, 2026. The cash-and-stock deal gives Fox control of a streaming platform that reaches more than 100 million households in the US.
Under the terms of the merger, Roku stockholders are entitled to receive $95.30 in cash and 0.9799 shares of Fox Class A common stock for each share of Roku Class A and Roku Class B common stock they owned immediately prior to closing. Former Roku shareholders own approximately 26% of Fox’s outstanding shares, while Fox’s shareholders own the remaining 74%. Roku stock will cease trading on the Nasdaq starting Friday.
Roku founder Anthony Wood will join the Fox board of directors and serve as co-chair of Fox Digital Platforms, a new division that includes Roku, Tubi, Fox One, Red Seat Ventures and other digital products and services across the company. Wood will lead the division alongside Paul Cheesbrough, who assumes the role of Fox Digital Platforms Co-Chair and CEO.
Fox expects the acquisition to bolster its advertising business and expand the online reach of its sports and news programming. The company expects $400 million in cost savings within the first two years of the deal and says it will be accretive to free cash flow per share by the second full year after closing.
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. When including linear TV, the combined company accounted for 8.5% of total TV viewership for the month, making it the fourth largest media distributor behind YouTube, Skydance and Disney.
The closing comes after the deal secured shareholder approval in October. It also comes as the Department of Justice cleared the deal after issuing a “second request” for additional information as part of its review.
Fox CEO Lachlan Murdoch said in a statement: “The closing of this acquisition advances the long-term strategy of FOX. Beginning today, our top priority for the combined company is to continue to relentlessly serve audiences and partners, while reinforcing the openness and choice that is the essence of the Roku platform.”
Anthony Wood said: “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.”
The acquisition combines Fox’s content portfolio with Roku’s connected TV platform, creating one of the largest streaming and advertising businesses in the US media market.
Sources
This article was drafted with AI assistance and checked against the sources above. Company claims are reported as claims. Cover image is AI-generated.
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