Roku

Streaming · Connected TV · Media

Acquisition

Fox Completes $22 Billion Acquisition of Roku

The deal closed months ahead of schedule, instantly making the combined company the third-largest television business in the U.S.

• Fox Corporation closed its $22 billion cash-and-stock acquisition of Roku on November 6, 2026, with Roku shareholders receiving $95.30 in cash plus 0.9799 Fox Class A shares per share.
• Roku, founded in 2002, is the top TV streaming platform in the US, Canada and Mexico by hours streamed, reaching over 100 million households worldwide.
• Post-close, Fox shareholders own about 74% of the combined company's stock and former Roku shareholders hold roughly 26%.
• Roku founder Anthony Wood joins Fox's board and co-chairs the new Fox Digital Platforms unit, while Roku president Charlie Collier and Tubi president Anjali Sud are departing and Mustafa Ozgen becomes Roku's new CEO.
• Fox projects about $400 million in run-rate cost synergies within two years and expects the deal to boost free cash flow per share by its second full year.
• The deal cleared a Justice Department second request and antitrust review months earlier than the first-half-2027 close Fox had originally guided to when the deal was announced in June 2026.
• The closing caps a wave of media consolidation that also saw Paramount-Skydance finalize its own deal a month earlier, as traditional broadcasters race to acquire streaming reach and ad technology.