Fox Corporation is set to acquire Roku for $22 billion in a deal expected to close in the first half of 2027. The merger combines Fox's content assets with Roku's connected-TV platform, creating a streaming entity with a 4.8 percent U.S. television viewership share.
This merger transforms Fox from a traditional broadcaster into a full-stack technology and media platform, eliminating its reliance on third-party distribution for digital growth. By pairing live sports and news with the dominant connected-TV interface, Fox can bypass the carriage negotiations that typically limit legacy media reach. The combined 4.8% viewership share proves that a scaled FAST strategy can achieve the same market penetration as premium subscription bundles. This shift forces competitors like Disney and Skydance to re-evaluate the value of their hardware-agnostic models. Watch for how Fox integrates NFL and MLB inventory directly into the Roku home screen to drive Tubi adoption.
The Disney cable channel closures highlight the broader industry trend of legacy media companies aggressively pivoting away from traditional distribution models.
Fox has announced a $22 billion acquisition of Roku, a move set to close in early 2027. By combining Tubi and The Roku Channel, the new entity will capture a 4.8% share of U.S. television viewership, effectively matching the combined reach of Disney+, Hulu, and ESPN while surpassing Skydance's streaming footprint.
The acquisition is structured as a $22 billion cash-and-stock deal.
The transaction is projected to close in the first half of 2027.
The combined entity will hold a 4.8% share of U.S. television viewership, which matches the combined reach of Disney+, Hulu, and ESPN.
The merger transforms Fox into a full-stack technology and media platform, allowing it to bypass third-party distribution and gain direct control over home-screen real estate and first-party data for over 100 million households.
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