A major acquisition will combine Fox’s news and sports assets with Roku’s streaming platform. The deal aims to boost audience targeting and reduce reliance on traditional TV delivery.
Media and technology professionals tracking shifts in streaming and audience monetization will see major implications as Fox confirmed it will acquire Roku in a stock and cash deal valued at approximately $22 billion. The transaction, announced Monday, is designed to position the combined company at the intersection of live sports, news, and the accelerating growth of streaming video.
Fox stated that the merger will create the third-largest television company in the United States, bringing together its news and sports channels, the free ad-supported streaming service Tubi, and Roku’s connected TV platform. According to Fox, this combination will enable the company to reach a significantly larger audience across both linear and streaming channels, enhancing its ability to target advertising and reduce dependence on traditional TV distribution.
The acquisition will give Fox access to Roku’s reported 100 million household audience, which the company says will support more effective ad targeting and a broader entry into the high-growth connected TV segment, including advertising and streaming subscriptions. Fox CEO Lachlan Murdoch described the deal as a defining moment for the company, emphasizing the potential for accelerated growth and innovation in streaming.
Roku founder and CEO Anthony Wood said the merger offers an opportunity to scale faster and innovate more aggressively for viewers, partners, and advertisers. The boards of both companies have approved the deal, which is expected to close in the first half of 2027. Fox disclosed that it secured a $12 billion loan to finance the acquisition.
Fox previously acquired Tubi for $440 million in 2020 and launched its direct-to-consumer streaming service Fox One last year, signaling its ongoing investment in digital video platforms.
Roku, founded in 2002, has become a leading connected TV platform in the United States, with its devices and operating system powering streaming for millions of households. The company reported more than 100 million active accounts, making it a key player in the shift from traditional television to streaming-based viewing.
