Fox Corporation announced on June 15, 2026, that it has agreed to acquire Roku in an all-in cash-and-stock transaction valued at approximately $22 billion in enterprise value.
Under the terms, Roku shareholders will receive $96.00 in cash plus 0.9693 shares of Fox Class A common stock for each Roku share — a blended price of $160 per share that represents a 33.7% premium over Roku's pre-announcement trading price.
What Each Side Brings
Fox contributes live sports rights (NFL, MLB), a national news operation, and its ad-supported streaming service Tubi, which has grown significantly in recent years. Roku brings the infrastructure: a connected TV platform installed across more than 100 million households worldwide, along with $613 million in Q1 2026 advertising revenue and deep relationships with virtually every major streaming service.
The combined entity is expected to rank as the third-largest U.S. television player by viewership share.
Leadership and Ownership
Post-close, current Fox shareholders will own approximately 73% of the merged company; Roku investors will retain the remaining 27%. Roku founder and CEO Anthony Wood will take a seat on Fox's Board and maintain an ongoing role in the company.
Fox CEO Lachlan Murdoch described the deal as "a defining moment" that "pairs Fox, the leader in live news and sports, with Roku, the leading connected TV platform." Wood, for his part, called it "the best way to accelerate our long-term strategy and continue shaping the future of television."
Timeline and Conditions
The transaction is expected to close in the first half of 2027, pending shareholder votes and regulatory approvals from U.S. and international authorities. Both boards have unanimously approved the deal.
The acquisition arrives as traditional TV networks continue losing audiences to streaming and as the major platforms consolidate to better monetize their combined content and distribution assets.
