Fox Corp. to Acquire Roku for $22 Billion in Bid to Strengthen Streaming Presence

On June 15, 2026, Fox Corporation announced a blockbuster move that could reshape the streaming landscape: it will buy Roku, Inc. for an enterprise value of $22 billion, paying $160 per share in a mix of cash and stock. The deal, disclosed by both companies, is slated to close in the first half of 2027.

With the purchase, Fox will inherit Roku’s entire hardware line, operating system, and streaming platform—including the ever‑popular Roku Channel. That means Fox now has a direct line to more than 100 million streaming households worldwide, a huge slice of the global connected‑TV market that the company has been chasing.

Fox already owns the free, ad‑supported service Tubi, which it snapped up in 2020 for $440 million, and the subscription‑based Fox One service that launched in August 2025. Adding Roku gives the network a powerful new venue to push both of those services to a broader audience.

The company’s strategy has long centered on live sports, news programming and advertising revenue. While Fox’s broadcast assets—Fox Broadcasting, Fox News and Fox Sports—remain strong, the streaming economy has steadily pulled viewers away from linear TV. By acquiring Roku, Fox gains a platform that already delivers billions of hours of content each quarter and supports a robust advertising network.

"The deal gives Fox a much greater presence across connected television, digital advertising and subscription distribution," a Fox spokesperson said. The acquisition is described as a natural next step after Fox’s earlier divestiture of its entertainment division to Disney in 2019 and its subsequent focus on television networks and free ad‑supported content.

Roku’s platform reaches more than 100 million households worldwide and generates significant engagement across its operating system, advertising network and subscription ecosystem. The company’s hardware segment includes streaming players, Roku‑branded TVs and other smart‑home products. The Roku Channel offers both live channels and on‑demand programming, while the company’s ad‑supported services provide a revenue stream that complements Fox’s own advertising efforts.

Fox plans to keep its streaming assets separate. Tubi will continue to focus on on‑demand viewing, whereas The Roku Channel will emphasize live channels alongside advertising and subscription revenue. This separation allows each platform to target complementary audiences and avoid cannibalization.

The acquisition also positions Fox to raise the profiles of Tubi and Fox One. Rather than relying on third‑party platforms to distribute its content, Fox can leverage Roku’s reach to promote its own services.

The deal’s financial terms are set at $160 per share, which translates to a total enterprise value of $22 billion. Fox will fund the purchase with a mix of cash and stock, and the transaction is subject to customary closing conditions.

Industry analysts note that the purchase reflects a broader trend of traditional media companies seeking to strengthen their streaming positions. Fox’s move follows its earlier $440 million acquisition of Tubi and its launch of Fox One, and it underscores the company’s commitment to building a diversified media portfolio that spans broadcast, sports, news and digital platforms.

If the transaction closes as planned, Fox will own a portfolio that includes broadcast television, live sports, news, a free ad‑supported streaming service, a subscription‑based streaming service and a leading streaming hardware and platform provider. The combined entity will be better positioned to compete in the rapidly evolving streaming economy.

The deal is expected to close in the first half of 2027, after regulatory approvals and shareholder votes are obtained. Until then, Fox and Roku will continue to operate independently.

In summary, Fox’s acquisition of Roku for $22 billion is a strategic effort to broaden its reach in the connected‑TV market, enhance advertising opportunities and support its existing streaming services. The move is poised to reshape Fox’s media footprint and strengthen its competitive stance in the streaming era.