Fox completes $22B acquisition of Roku, months ahead of schedule
What's the deal? Fox CorporationDealroom has a profile for this one. Try Dealroom → on 6 November 2026 completed its roughly $22 billion acquisition of Roku, the connected-TV platform that reaches more than 100 million households. Roku shares cease trading on Nasdaq as of the close. Under the merger terms, Roku stockholders receive $95.30 in cash and 0.9799 shares of FOX Class A common stock per Roku share; Fox stockholders own about 74% of the combined company and former Roku stockholders about 26%.
How the combined company is set up: Roku founder Anthony Wood joins the Fox board and becomes Co-Chair of FOX Digital Platforms, a new division that includes Roku, Tubi, FOX One and Red Seat Ventures, alongside Paul Cheesbrough as Co-Chair and CEO. Fox says it expects about $400 million of run-rate cost synergies within two years and that the deal should be accretive to free cash flow per share by the second full year after closing. Fox has also committed to keep Roku an open platform for non-Fox content for at least three years, part of the behavioural undertakings tied to the US Department of Justice closing its antitrust review on the same day.
Why it matters: The close lands months ahead of the original first-half-2027 target and turns Fox from a live news-and-sports broadcaster into a scaled streaming and connected-TV operator that owns both content and the distribution OS in more than 100 million homes. It is one of the largest media-tech takeovers to finish in 2026.
Read more: Fox Corporation (company PR), Reuters via U.S. News, TechCrunch, US DOJ Antitrust Division statement
Image: Roku Streaming Stick 4K, TaurusEmerald via Wikimedia Commons, CC BY-SA 4.0
