Fox closes $22 billion Roku deal months ahead of schedule
Fox Corp. has completed its $22 billion purchase of Roku, adding the streaming platform's 100 million-plus households to Tubi and Fox One. The deal closed Friday, months before its first-half 2027 target, and Fox has pledged to keep Roku open to rival content.
AI-assisted · US Brief desk · Sources listed below
What happened
Fox Corp. completed its acquisition of Roku on Friday, Nov. 6, in a deal the Los Angeles Times valued at $22 billion including debt. The deal closed months ahead of the companies' original target of the first half of 2027. Roku shares stopped trading on the Nasdaq the same day.
The terms: Roku holders get $95.30 in cash plus 0.9799 of a Fox Class A share for each Roku share. Fox's existing shareholders now own about 74% of the company and former Roku holders about 26%. Fox expects about $400 million a year in cost savings within two years.
What Fox promised: Fox says Roku will stay open to rival apps and channels. The Justice Department found the deal would not harm competition among ad-supported streaming services, the Times reported. Fox committed to carry content it does not own for at least three years and to keep letting users arrange apps on their home screens.
Why it matters
Roku's platform reaches more than 100 million households worldwide, Fox said. That gives the owner of Fox News, Fox Sports and the free Tubi service a direct line into homes as viewers keep leaving cable and satellite for streaming, the Times reported. Tubi turned profitable last year, according to the Times.
More context
Weak spot: Fox's pledge on rival content has a stated floor of three years, the Los Angeles Times reported. Neither Fox's release nor the Times describes a commitment beyond that.
Who runs it: Roku founder Anthony Wood joins Fox's board and becomes co-chair of a new Fox Digital Platforms division with Roku, Tubi, Fox One and Red Seat Ventures. Paul Cheesbrough, who ran Tubi, is co-chair and CEO. "Our top priority for the combined company is to continue to relentlessly serve audiences and partners," Fox CEO Lachlan Murdoch said.
What would change the story: any sign that rival apps lose placement on Roku's home screen, especially after the three-year carriage commitment runs out.
4 listed sources
- Fox Corporation, Fox Corporation Completes Acquisition of Roku, Nov. 6, 2026
- Los Angeles Times, Fox owns Roku after $22-billion deal closes ahead of schedule, Nov. 6, 2026
- Variety, Fox Closes $22 Billion Roku Acquisition, Nov. 6, 2026
- TheWrap, Fox Completes $22 Billion Roku Acquisition, Nov. 2026
References listed by US Brief; a source count is not a verification score.
Editorial sourcing notes
Deal terms, ownership split, synergy target and leadership roles are from Fox Corporation's Nov. 6 release. The original first-half 2027 target, the Justice Department finding and Fox's three-year carriage commitment are from the Los Angeles Times. Fox Corporation also owns Fox News. The hero photo shows one of Roku's San Jose headquarters buildings (file photo, 2024).
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