Executives negotiate a major acquisition in a high-rise office.
Fox Corporation announced Monday it is acquiring Roku, Inc. for $160 per share, a deal valued at $22 billion. This strategic move aims to combine Fox’s extensive live entertainment, news, and sports portfolios with Roku’s position as the top streaming platform in the U.S. by hours streamed.
Lachlan Murdoch, Fox Corporation Executive Chair and CEO, described the acquisition as a “defining moment” for the company, aligning its strong live content with Roku’s vast viewer base. “Today, we take the next step: bringing together the most valuable live content portfolio in video consumption with the preeminent streaming platform through which America watches it,” Murdoch stated.
The transaction is expected to accelerate Fox Corporation’s expansion into connected TV advertising. The combined entity is projected to become the third-largest player in U.S. television viewership. Roku currently reaches over 100 million global streaming households, including more than half of all U.S. broadband households.
The deal, unanimously approved by the Boards of Directors of both companies, will be financed through a combination of cash and Fox Corporation stock. Post-merger, Fox shareholders will own 73% of the combined company, with Roku shareholders holding the remaining 27%.
Roku founder, chair, and CEO Anthony Wood is slated to join the combined company in an ongoing role and will become a member of the FOX Board of Directors. “Over the past two decades, we’ve built Roku into the leading TV streaming platform… the combination with FOX is an extraordinary opportunity to accelerate our vision, scale faster and innovate more aggressively for viewers, partners and advertisers,” Wood commented.
The acquisition is subject to customary closing conditions, including shareholder and regulatory approvals, with an expected completion in the first half of 2027.
About the Author
