Fox to buy Roku in $22 billion deal

Fox has announced a significant move into the streaming landscape, agreeing to acquire Roku in a deal valued at approximately $22 billion. The transaction, structured as a cash-and-stock combination, marks a major step for Fox as it seeks to bolster its presence in the rapidly evolving media market.

Roku, a pioneer in bringing streaming platforms like Netflix and YouTube to televisions via connected devices and smart TVs, derives its revenue primarily from advertising and subscriptions on its platform. Advertising constitutes the largest portion, with first-quarter revenue reaching $613 million, a 27% increase year-on-year.

The acquisition terms set the price at $160 per share for Roku, which represents an 11.4% premium over its last closing price. This strategic move by Fox is expected to close in the first half of the calendar year 2027, pending regulatory approvals and other customary closing conditions.

This acquisition positions Fox to leverage Roku's established user base and technology infrastructure, potentially reshaping its content distribution and advertising strategies in the competitive streaming arena.