Fox has announced a major acquisition of Roku in a stock-and-cash transaction valued at about $22 billion, bringing together two influential names in modern video distribution.
The move is designed to unite Fox's strength in live sports, news, and ad-supported streaming with Roku's connected TV ecosystem. Fox says the combined business would become the third-largest television company in the United States, with broader reach across both traditional broadcasting and streaming platforms.
Roku's platform reaches about 100 million households, offering Fox a larger base for audience targeting and advertising innovation. The company also expects the deal to deepen its presence in connected TV, one of the fastest-growing areas in digital media.
Fox CEO Lachlan Murdoch described the transaction as a defining step for the company, while Roku founder and CEO Anthony Wood said the partnership could accelerate product development and expand opportunities for viewers, advertisers, and content partners.
Fox previously expanded its streaming footprint with Tubi and later launched Fox One, its direct-to-consumer service. The new deal has already been approved by both boards and is expected to close in the first half of 2027, following the financing of a $12 billion loan.
If completed, the acquisition could help redefine how audiences move between live television and streaming, setting a new model for the next era of media.
