Fox Corporation completes acquisition of streaming platform Roku

Fox Corporation officially finalized its acquisition of the streaming platform Roku, Inc. on Nov. 6, 2026, marking a significant expansion of the company's digital business operations. The transaction, valued at approximately $22 billion including debt, closed ahead of the initial target date of the first half of 2027.

Under the terms of the agreement, each share of Roku was converted into $95.30 in cash and 0.9799 shares of Fox Class A common stock. Following the completion of the deal, former Fox shareholders hold about 74% of the combined company, while former Roku shareholders hold approximately 26%. Roku shares have officially ceased trading on the Nasdaq.

The acquisition integrates Roku into a newly formed business unit called Fox Digital Platforms, which also encompasses Tubi, Fox One, and Red Seat Ventures. Anthony Wood, the founder of Roku, has joined the Fox board of directors and will serve as co-chair of this new division alongside Paul Cheesbrough.

The U.S. Department of Justice concluded an antitrust investigation into the merger, determining that the transaction was unlikely to harm competition. As part of the transition, Fox has committed to maintaining Roku as an open and neutral platform, pledging to carry content from competitors for at least three years without discrimination.

Lachlan K. Murdoch, executive chair and CEO of Fox Corporation, stated that the acquisition aligns with the company's long-term strategy to serve audiences and partners while preserving the openness of the Roku platform. Anthony Wood noted that the deal provides the resources to expand the reach of the service while maintaining its commitment to content partners.

Fox expects the integration to generate approximately $400 million in run-rate cost synergies within two years of the closing date.