Fox and Roku Shareholders Approve $22 Billion Deal

Shareholders of Fox Corporation and Roku Inc. approved Fox’s proposed acquisition of the streaming platform company at separate special meetings on October 14, advancing a deal valued at about $22 billion. The transaction still requires regulatory clearance and other closing conditions, and the companies are targeting completion in the first half of 2027. Fox’s filing reported that 99.9% of votes cast by holders of its Class B common stock supported the deal. The filing recorded 197.4 million shares in favor, 71,891 against and 45,001 abstaining. That tally covers Fox Class B holders, not all Fox shareholders. Roku shareholders also approved the transaction, according to reports, but Roku’s official vote totals had not yet been filed as of October 15. Under the agreement, Roku shareholders are to receive $96 in cash and 0.9693 shares of Fox Class A common stock for each Roku share. The consideration was summarized as $160 per share, and the companies put the transaction’s enterprise value at about $22 billion. After closing, Fox shareholders are expected to own approximately 73% of the combined company, with Roku shareholders holding the remaining 27%.