Fox Corp. plans to acquire Roku in a $22 billion deal, the two sides announced Monday. The buy gives Fox a larger digital footprint to pair with its live news and sports content while also bringing two of the largest free streaming services, The Roku Channel and Tubi, under the same roof.
As free, ad-supported streaming platforms grew roughly 40% over 2025, Tubi and Roku have taken different paths to being among the largest players in the category. Tubi primarily offers movies and TV shows for on-demand viewing, while The Roku Channel has seen most of its viewership tune into channels programmed by content owners, including top newsrooms and sports rightsholders.
To date, premium sports properties remain on broadcast TV, cable and paid streaming services rather than free platforms. During a call with investors Monday, Fox CEO Lachlan Murdoch indicated that the network’s most valuable sports rights will stay on Fox, FS1 and the Fox One streaming service.
But both Tubi and The Roku Channel—which will likely remain separate for consumers, according to Fox leadership—have expanded their sports offerings in recent years. Tubi is currently littered with World Cup-related content, while Roku has signed deals with the X Games and Formula E. It previously had rights to exclusive Sunday MLB games.
