An article summarized by Variety:

Fox Corporation announced plans to acquire Roku in a deal valued at approximately $22 billion, marking one of the biggest moves yet by a traditional media company into streaming. Fox will pay a combination of cash and stock, valuing Roku at $160 per share, with the transaction expected to close in the first half of 2027. The acquisition would combine Fox's portfolio of live sports, news, entertainment programming, and streaming service Tubi with Roku's platform, advertising technology, and audience of more than 100 million streaming households worldwide.

Fox CEO Lachlan Murdoch called the deal a "defining moment" for the company, arguing that it positions Fox for future growth as viewers continue shifting from traditional television to streaming. The combined company would become the third-largest player in U.S. television by viewing share and would gain a direct relationship with millions of consumers through Roku's devices, operating system, and streaming channels. Roku founder and CEO Anthony Wood is expected to remain involved after the merger and will join Fox's board.

The deal comes as Roku has finally achieved profitability after years of growth-focused investment. In 2025, Roku reported its first full-year profit, earning $88.4 million on $4.74 billion in revenue. Fox expects the merger to generate roughly $400 million in annual cost savings while creating additional revenue opportunities through advertising and streaming. Following the transaction, existing Fox shareholders will own about 73% of the combined company, while current Roku shareholders will own the remaining 27%, giving Fox a much larger presence in the rapidly growing streaming and connected-TV market.

For the article: https://variety.com/2026/tv/news/fox-acquiring-roku-1236781308/