Fox Corporation completes $22 billion acquisition of Roku

Fox Corporation has finalized its acquisition of the streaming platform Roku in a deal valued at approximately $22 billion. The transaction, completed ahead of the previously expected 2027 timeline, aims to accelerate Fox’s digital strategy by combining its live sports, news, and local programming with Roku’s connected TV platform, which reaches over 100 million households.

As part of the agreement, Roku founder Anthony Wood will join the Fox board of directors and serve as co-chair of the newly formed Fox Digital Platforms division. He will lead the division alongside Paul Cheesbrough, who assumes the role of co-chair and CEO. The division will encompass Roku, Tubi, Fox One, and Red Seat Ventures.

Fox expects to achieve roughly $400 million in run-rate cost synergies within two years of the closing. The company stated it intends to maintain Roku as an open ecosystem for the broader streaming industry to preserve viewer choice and value for content partners.