Fox Corp. has announced a definitive agreement to acquire streaming platform Roku in a deal valued at approximately $22 billion, according to a joint statement from the companies. The acquisition is expected to create a media powerhouse that would become the third-largest player in US television by share of viewing.
The deal, first reported by The Wall Street Journal, will combine Fox's broadcast and cable networks, including Fox News, Fox Sports, and the Fox broadcast network, with Roku's streaming platform, which has over 80 million active accounts. The companies said the merger will accelerate their ability to compete with streaming giants like Netflix and Disney+.
Under the terms of the agreement, Roku shareholders will receive a combination of cash and Fox Corp. stock. The transaction is expected to close in the first half of 2027, subject to regulatory approvals and Roku shareholder vote. Fox Corp. CEO Lachlan Murdoch will lead the combined entity.
Analysts noted that the deal gives Fox Corp. direct access to Roku's large user base and advertising technology, while Roku gains access to Fox's premium content and sports rights. The acquisition is seen as a strategic move to strengthen Fox's position in the streaming market amid cord-cutting trends.
