Under the terms of the deal, Fox will pay $160.00 per share, comprised of $96.00 in cash and 0.9693 shares of Fox Class A common stock. The merger, which has received unanimous approval from the boards of both companies, is expected to close in the first half of 2027. Once finalized, Fox shareholders will hold roughly 73% of the combined company, with Roku shareholders retaining 27%.
Fox Corporation to Acquire Roku for $22 Billion
Fox Corporation has reached a definitive agreement to acquire streaming giant Roku in a cash-and-stock deal valued at approximately $22 billion. The move merges Fox’s portfolio of live news and sports with Roku’s connected TV platform, positioning the combined entity to compete directly in the evolving digital video landscape.
Lachlan K. Murdoch, CEO of Fox Corporation, described the acquisition as a natural evolution of the company’s strategy to center its business on live content. By integrating Roku’s reach—which spans over 100 million households—with assets like Tubi and Fox’s premier sports and news brands, the company intends to capture a larger share of the connected TV advertising market. Anthony Wood, founder and CEO of Roku, will join the Fox Board of Directors following the transaction. Fox has secured $12 billion in bridge financing to support the cash portion of the acquisition, while maintaining its investment-grade credit rating.
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