Fox Corporation’s $22 Billion Roku Acquisition: A Strategic Pivot into Streaming Supremacy

Fox’s bold move to acquire Roku for $22 billion marks a turning point in media strategy—shifting from content creation to full-stack streaming dominance.

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A Landmark Deal in Streaming Consolidation

On June 15, 2026, Fox Corporation confirmed a definitive agreement to acquire Roku in a transaction valued at approximately $22 billion, or $160 per share—comprising $96 in cash and 0.9693 shares of Fox Class A common stock per Roku share . This marks Fox’s most significant strategic move since its acquisition of Tubi in 2020 . The deal has unanimous board approval and is expected to close in the first half of calendar year 2027, pending regulatory and shareholder approvals .

Creating a Streaming and Live TV Powerhouse

The merger brings together Fox’s dominant live content portfolio—spanning NFL, MLB, NASCAR, Big Ten, FIFA World Cup, and news brands such as Fox News and Fox Business—with Roku’s streaming infrastructure, including The Roku Channel, first‑party data, and direct access to over 100 million global streaming households . Together, the combined company will become the third‑largest U.S. television entity by share of viewing, combining broadcast, cable, local and streaming reach .