Fox Corporation proposes $22 billion acquisition of Roku

Fox Corporation has proposed a $22 billion acquisition of Roku, Inc., a deal expected to close in the first half of 2027 pending regulatory and shareholder approval. The merger aims to combine Fox’s news, sports, and entertainment assets with Roku’s connected-TV platform, which serves over 100 million streaming households globally and is present in more than half of U.S. broadband homes.

The transaction has intensified antitrust scrutiny regarding platform control. Regulators are examining whether a company that owns both content and the distribution platform can avoid disadvantaging competitors through self-preferencing. Roku currently holds a significant market position, with research placing its OS at 28% of U.S. broadband household primary connected-TV usage.

Financially, Roku reported strong Q2 2026 results, including 22% year-over-year revenue growth and earnings per share that exceeded analyst expectations. This growth reflects a broader surge in the connected TV advertising market, which is projected to reach $38 billion this year. Other industry players, such as The Trade Desk, are also expanding their presence in the streaming advertising ecosystem to capitalize on shifting brand spending from linear television to digital platforms.