Fox Corporation has entered into a definitive agreement to acquire Roku for approximately $22 billion, with the transaction expected to close in the first half of 2027. The deal, which includes a 34% premium for Roku shareholders, will integrate Roku's platform and ad sales operations into Fox's existing streaming portfolio.
This acquisition transforms Fox from a content provider into a dominant gatekeeper of the streaming home screen, controlling the 'front door' for over 100 million households. By owning the operating system, Fox gains direct access to first-party viewer data and a performance advertising stack that rivals Amazon and YouTube. However, the move creates immediate tension with rival streamers like the newly merged Skydance-WBD entity, which must now rely on a direct competitor for distribution and ad inventory. Industry observers should monitor whether Fox maintains Roku's 'neutral' platform status or begins prioritizing its own Tubi and sports content in the interface.
Fox Corporation has agreed to acquire Roku for $22 billion, a deal expected to close in early 2027. By purchasing the streaming hardware giant, Fox gains control over 125 million daily viewers and a robust ad business, effectively transforming from a content provider into a dominant gatekeeper of the streaming home screen.
Fox is acquiring Roku for $22 billion, which equates to $160 per share. This includes $96 in cash and 0.9693 Fox Class A shares for each Roku share.
The acquisition of Roku by Fox is expected to close in early 2027.
The transition will be led by former Meta executive Patrick Harris and ad chief Lauren Benedict, working under the leadership of Roku Media president Charlie Collier.
Fox gains access to Roku's 125 million daily viewers, its $673 million quarterly ad business, The Roku Channel, and the Roku Ads Manager platform.
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