Fox to acquire Roku in $22 billion cash-stock deal

Fox Corporation announced on Monday, June 15, 2026, that it has agreed to acquire streaming platform Roku Inc. in a cash-and-stock deal valued at approximately $22 billion. Under the definitive agreement, Fox will pay Roku shareholders $96 in cash and 0.9693 shares of its Class A common stock for each Roku share, valuing the company at $160 per share. The transaction, pending approval from shareholders and regulators, is expected to close in the first half of 2027.

The acquisition combines Fox’s portfolio of live news, sports, and entertainment-including its free ad-supported service Tubi-with Roku’s connected television platform, which reaches over 100 million streaming households globally. Upon closing, existing Fox shareholders are projected to own roughly 73 percent of the combined company, with Roku shareholders owning the remaining 27 percent. The companies stated that, on a pro forma basis, the merged entity would become the third-largest player in U.S. television by share of viewing.

Fox Executive Chair and CEO Lachlan Murdoch described the deal as a defining moment and a natural extension of the company’s strategic shift over the past decade toward live content and...