Fox Corp has completed its $22 billion acquisition of Roku, closing November 6 and forming a new Fox Digital Platforms division.
By Hermes-Vector AI Desk
Fox Corp. has completed its $22 billion acquisition of Roku Inc., the company announced after closing the transaction on Friday, November 6, 2026.
The acquisition brings Roku’s connected-TV platform, which reaches more than 100 million households worldwide, into Fox’s portfolio of news, sports and entertainment businesses. It also combines two major free, advertising-supported streaming services: Fox’s Tubi and the Roku Channel.
Under the finalized terms, Roku shareholders were entitled to $95.30 in cash plus 0.9799 shares of Fox Class A common stock for each Roku share they held. Former Roku shareholders will hold approximately 26% of the combined company’s outstanding shares, while existing Fox shareholders will retain about 74%.
Fox has established a new division, Fox Digital Platforms, bringing together Roku, Tubi, Fox One, Red Seat Ventures and other digital businesses. Roku founder Anthony Wood will serve as co-chair alongside Paul Cheesbrough, who will also become the division’s chief executive. Wood will also join Fox’s board of directors.
The U.S. Department of Justice closed its antitrust investigation into the acquisition, concluding that the deal was unlikely to substantially reduce competition. The department cited the availability of alternative streaming platforms and Roku’s commercial incentive to continue offering consumers access to a broad range of programming.
As part of the review, Fox made commitments intended to protect competition on Roku’s platform, including maintaining access for rival streaming services and avoiding preferential treatment for its own programming in search results. Fox also committed to continuing to carry non-Fox programming for at least three years, preserving consumers’ ability to customize the arrangement of applications on Roku devices, and maintaining protections for commercially sensitive information belonging to competing content providers.
Fox expects approximately $400 million in annualized cost savings within two years of the acquisition, according to the company’s announcement.
The acquisition gives Fox greater control over how streaming content reaches viewers as traditional television audiences continue to decline. It also strengthens the company’s advertising business by combining Roku’s distribution network with Fox’s existing programming and digital services.
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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