Fox to make a massive leap in streaming with $22 billion deal for Roku

Copyright 2026 The Associated Press. All Rights Reserved.

Copyright 2026 The Associated Press. All Rights Reserved.

In a move that is set to take the streaming industry by storm, Fox Corporation has agreed to buy streaming pioneer Roku in a massive $22 billion cash-and-stock deal, including debt.

This deal marks a significant shift in the industry, with one of the world's top media companies looking to expand its reach in the streaming space. Fox oversees a huge sports, news, and entertainment network, as well as the popular Tubi platform, which it acquired in 2020.

Roku, a company that was initially spun off by Netflix, has been on the radar of investors and potential buyers for a while due to its significant global presence. The company has built a massive platform, with more than 100 million households around the world using its services, including its channel and first-party data.

According to reports, the deal values Roku at $160 per share, with existing Fox shareholders set to own approximately 73% of the combined company and Roku shareholders owning around 27% once the deal is closed. The deal is expected to close in the first half of next year.

Roku founder and CEO Anthony Wood will reportedly have an ongoing role at the company and join the Fox board of directors once the transaction is completed.

The deal is seen as a major coup for Fox, which will gain access to Roku's significant streaming capabilities and audience reach. According to Mike Proulx, research director at Forrester, the deal will enable Fox to accelerate its shift into the streaming industry and gain exposure to new revenue streams, including advertising and subscriptions.