Fox Corporation just made the biggest bet in its history, and it has nothing to do with cable news. The company, under the leadership of Lachlan Murdoch, has agreed to acquire streaming platform Roku in a deal valued at approximately $22 billion, including debt.
The transaction prices Roku shares at $160 each in a cash-and-stock structure.
What the deal actually looks like
The acquisition, announced on June 15, 2026, would combine Fox’s deep bench of live news and sports content with Roku’s massive streaming distribution infrastructure. The combined entity is projected to become the third-largest player in US television.
The deal is expected to close in the first half of 2027, pending regulatory approvals.
