Fox has announced it is acquiring Roku outright, in a deal that values the streaming company at $22 billion.
The deal will combine Fox’s TV networks and Tubi streamer with Roku’s streaming devices, smart TV software and The Roku Channel network. Overall, they will become the third-largest player in the U.S. TV industry by viewing share, the companies said in a press release.
It doesn’t seem like the plan is to make Roku and Fox into a walled-off ecosystem. Roku founder and CEO Anthony Wood, who will remain at the company and join Fox’s board of directors, said in an investor call that Roku will “continue to serve as an open, partner-friendly platform supporting the entire streaming ecosystem.” As far as Fox is concerned, the press release said the companies are “committed” to the “continued omnichannel distribution” of Fox’s own content.
“This is a defining moment for Fox, and a natural extension of the deliberate and focused strategy we have been pursuing for nearly a decade,” Fox CEO Lachlan Murdoch said in a statement. “Today, we take the next step: bringing together the most valuable live content portfolio in video consumption with the leading streaming platform through which America watches it.”
“Over the past two decades, we have built Roku into the leading TV streaming platform, reaching more than 100 million homes globally and reshaping the way people discover and enjoy entertainment,” said Wood, CEO of Roku. “I am incredibly proud of what our team has built, and the combination with Fox is an extraordinary opportunity to sharpen our approach, move faster and innovate more aggressively for audiences, partners and advertisers.”
The deal is expected to close in the first half of 2027, but is subject to regulatory approval, which is unlikely to pose any problems in the US in the current environment.
Update, June 15: Added Anthony Wood’s quote from investor call.
<a href