Fox Corporation announced on June 15, 2026 a definitive agreement to acquire Roku, the connected TV pioneer, in a deal valued at approximately $22 billion. Roku shareholders will receive $160 per share — a combination of cash and Fox Class A stock — with Fox taking on $8 billion in new debt to finance the transaction. Post-close, Fox shareholders will own 73% of the combined company while Roku shareholders retain 27%.
The deal pairs Fox's dominant live news and sports content — plus its free streaming service Tubi — with Roku's connected TV platform and The Roku Channel, which together reach more than 100 million streaming households worldwide. Fox CEO Lachlan Murdoch called it "a defining moment," arguing the merger "pairs Fox, the leader in live news and sports, with Roku, the leading connected TV platform." Roku founder Anthony Wood said the transaction represents "the best way to accelerate our long-term strategy and continue shaping the future of television."
The combined entity is expected to become the third-largest U.S. TV platform by reach. Analysts project at least $400 million in annual cost savings once the deal closes, which is expected in the first half of 2027, pending shareholder approval and regulatory clearance under antitrust rules.