Fox Corporation agreed to acquire Roku Inc. in a cash-and-stock transaction valued at $22 billion [1].
The deal represents a major strategic shift for Fox as it seeks to integrate its sports and news programming directly into a dominant streaming ecosystem. By owning the platform, Fox gains direct access to first-party data and a massive distribution network, reducing its reliance on third-party hardware providers.
Under the terms of the agreement, Fox will pay $160 per share for Roku [3]. The total value of the deal, which includes the assumption of debt, is estimated at $22 billion [2]. The companies announced the agreement on June 15, 2024, and expect the transaction to close in the first half of 2027 [4].
Fox intends to use the acquisition to fuel its broader streaming push. The company plans to combine its existing content library with Roku's infrastructure to better compete with other media giants in the U.S. market. A primary driver for the merger is the opportunity to leverage Roku's global reach, which includes more than 100 million subscribers [5].
This integration allows Fox to bypass traditional gatekeepers and deliver its content more efficiently to a global audience. The move also strengthens the position of Tubi, Fox's existing streaming service, by placing it within the broader Roku hardware and software environment.
The companies said the deal remains subject to regulatory approvals and customary closing conditions. The transition period leading up to the 2027 closing date will involve aligning the operational goals of both the content provider and the platform operator.
“Fox Corp is acquiring Roku in a cash-and-stock transaction.”
This acquisition signals a move toward vertical integration in the streaming industry, where content owners seek to control the delivery mechanism. By absorbing Roku, Fox transforms from a content supplier into a platform owner, gaining critical data on 100 million users that can be used to optimize advertising and content delivery.
