Fox Corp completes $22 billion acquisition of Roku

Fox Corp announced a deal to acquire streaming platform Roku for roughly $22 billion, including debt. The transaction will be paid in cash—$96 per Roku share—and Fox stock at a rate of 0.9693 Fox shares per Roku share. The agreement, expected to close in the first half of 2027, will give Fox control of Roku's platform, which reaches over 100 million U.S. households and generates quarterly advertising revenues of about $613 million.

After the announcement, Roku’s share price fell double‑digit, while Fox shareholders expressed disappointment as the deal dilutes their holdings. Post‑merger, Fox shareholders are projected to own about 73% of the combined company, making Fox the third‑largest player in the U.S. television market and giving it direct access to user data and advertising opportunities across Roku’s ecosystem.