Fox Corporation is acquiring Roku in a $22 billion deal
Fox is acquiring Roku in a $22 billion deal expected to close in the first half of 2027.
Fox Corporation has announced it is acquiring Roku in a cash-and-stock deal worth approximately $22 billion, paying $160 per share.
The deal pairs Fox’s live news and sports content portfolio, which includes the NFL, MLB, NASCAR, FOX News, and Tubi, with Roku’s connected TV platform that reaches over 100 million households worldwide. On paper, the combined company would become the third-largest player in U.S. television by share of viewing.
Lachlan Murdoch, Fox’s CEO, framed it as the next logical step in a decade-long strategy:
“In 2020, we acquired Tubi and under our stewardship it has become one of the most successful businesses in streaming. Today, we take the next step,” he said. Roku founder Anthony Wood, who will join the Fox board after the deal closes, called it “an extraordinary opportunity to accelerate our vision.”
Fox will pay $96 per share in cash and the rest in Fox Class A stock. Existing Fox shareholders are expected to own around 73% of the combined company, with Roku shareholders holding the remaining 27%. Fox has secured $12 billion in bridge financing from Morgan Stanley to fund the cash portion.
Both boards have unanimously approved the deal. It still needs regulatory sign-off and shareholder approval from both companies, with closing expected in the first half of 2027.