Fox Corporation and Roku have entered into a definitive agreement under which FOX will acquire Roku for approximately $22 billion.
The transaction combines FOX’s sports, news and entertainment content and the Tubi service, with Roku’s connected TV platform, The Roku Channel, first-party data and direct relationship with more than 100 million global streaming households.
Lachlan K. Murdoch, executive chair and CEO of Fox Corporation, said: “This is a defining moment for FOX, and a natural extension of the deliberate and focused strategy we have been executing for nearly a decade … This combination will transform the scope of our company into high-growth verticals and yield a step change in our overall growth profile. And we are executing this acquisition from a position of financial strength – maintaining our investment grade balance sheet while providing our shareholders with an uninterrupted return of capital program in the form of share buybacks and dividends. Roku pioneered streaming TV and scaled it into a leading CTV platform. Together, we intend to lead its next chapter.”
The acquisition of Roku provides a wider entry into the high growth segment of connected TV, particularly advertising and streaming subscriptions.
Roku founder, chairman and CEO Anthony Wood will have an ongoing role at the combined company and will join the FOX Board of Directors following the close of the transaction.
The transaction is expected to close in the first half of 2027.
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