On Monday, Fox officially announced its intention to acquire Roku, a company specializing in streaming platforms. The operation, which will combine shares and cash, amounts to approximately $22 billion. According to Fox, this merger will give rise to a new company focused on two major trends in audiovisual consumption: the enduring appeal of live sports and news broadcasts, as well as the expansion of internet-based content.
Fox states that following the integration, it will become the third-largest television group in the United States. The union will integrate Fox’s sports and news channels, along with its free ad-supported platform Tubi, into Roku’s connected TV ecosystem.
The company explains that this synergy will allow it to reach a significant audience across both traditional television and streaming.
Thanks to the agreement, Fox will gain access to Roku’s 100 million households, which will make it easier to target advertising more effectively and reduce its reliance on traditional distribution channels. Furthermore, the acquisition will open a “broader gateway” into the high-growth connected TV sector, particularly in advertising and streaming subscriptions.
Lachlan Murdoch, Fox’s CEO, described the deal as a “key” milestone for the organization.
“This merger will enhance our company’s reach in high-growth verticals and radically transform our overall growth trajectory,” Murdoch said in a statement. “Roku pioneered streaming and expanded it into a leading connected TV platform. Together, we aim to lead the next chapter of this evolution.”
Fox had previously acquired Tubi for $440 million in 2020, at the height of competition in the live streaming industry. Last year, the company launched Fox One, its own direct-to-consumer streaming service.
Anthony Wood, founder and CEO of Roku, stated: “I am incredibly proud of what we have built. Joining forces with Fox represents a unique opportunity to accelerate our vision, scale faster, and innovate more aggressively for the benefit of viewers, partners, and advertisers. I couldn’t be more excited about what we will achieve together.”
The boards of directors of both companies have already approved the agreement, which is expected to close in the first half of 2027. To finance the operation, Fox obtained a loan of $12 billion.
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