Fox is buying Roku for $22 billion in a major streaming industry acquisition

Fox Corporation announced today its definitive agreement to acquire streaming technology company Roku in a substantial $22 billion deal. The acquisition will see Roku shareholders receive $160 per share in a combination of cash and Fox Class A common stock. This strategic move aims to merge Fox's extensive content portfolio, which includes live sports, news, and entertainment, along with its Tubi streaming service, with Roku's widely adopted connected TV platform and its reach of over 100 million global streaming households.

The transaction is expected to significantly bolster Fox's presence in the digital streaming market and is projected to create the third-largest player in U.S. television by share of viewing. Both company boards have unanimously approved the acquisition, which is anticipated to close in the first half of 2027, subject to regulatory clearances and shareholder approvals. Fox anticipates approximately $400 million in annual cost synergies from the integration.