Fox Corp. is making a dramatic bet on its streaming future, unveiling plans to buy Roku in a deal that values the streaming platform at $22 billion.
Fox announced Monday that it has agreed to acquire Roku for $160.00 per share in a combination of cash and Fox Class A common stock, valuing Roku at approximately $22 billion in enterprise value. The companies expect the deal to close in the first half of calendar year 2027.
The deal would combines Fox’s sports, news and entertainment content and the Tubi service with Roku’s connected TV platform, the Roku Channel, first-party data and direct relationship with more than 100 million global streaming households.
The companies said they are “committed to continuing to operate Roku as an open, partner-friendly platform” and to the continued “ubiquitous” distribution of Fox content. Fox Corp. said that Anthony Wood, Roku’s founder, chairman and CEO, will have an ongoing role at the combined company and will join the Fox board following the close of the transaction.
According to the companies, on a pro-forma basis, the combined company will become the third-largest player in U.S. TV by share of viewing.
