Fox Corporation and Roku shareholders have officially approved a $22 billion acquisition deal, moving the transaction toward a projected 2027 closing. The merger aims to integrate Fox's content and Tubi service with Roku's streaming platform to enhance advertising and distribution capabilities, though it remains subject to ongoing regulatory review.
This merger represents a significant shift toward vertical integration, pairing Roku’s 100 million streaming households with Fox’s live sports, news, and Tubi’s ad-supported library. By controlling both the operating system and the content, Fox gains direct leverage over the advertising stack and distribution data that third-party apps currently guard. This consolidation pressures other hardware manufacturers and FAST providers to scale their own first-party data capabilities to remain competitive in a tightening ad market. Watch for the Department of Justice's final antitrust ruling, which remains the last major hurdle before the projected 2027 closing date.
Shareholders have approved a $22 billion deal for Fox Corporation to acquire Roku, with the transaction expected to close in 2027. This merger integrates Roku’s streaming households with Fox’s content library, allowing Fox to control both the operating system and distribution data, significantly impacting the competitive landscape for CTV advertising.
The acquisition deal is valued at $22 billion.
Roku stockholders will receive $96 in cash and 0.9693 shares of Fox Class A common stock for each share they hold.
Fox stockholders will retain 73% ownership of the new company, while former Roku holders will own 27%.
The deal remains under regulatory scrutiny, specifically awaiting a final antitrust ruling from the Department of Justice.
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