Fox Corporation has announced a cash-and-stock agreement to acquire streaming platform Roku for approximately $22 billion in enterprise value. Fox will pay $160 per share, including $96 in cash, to acquire the company along with its namesake channel and customer data. The deal is expected to be completed in the first half of 2027.
This acquisition provides Fox access to more than 100 million households worldwide currently using Roku devices and smart TVs. The move is a strategic bet that combining streaming capabilities with Fox's news and sports offerings will position the broadcaster strongly as television audiences increasingly move online.
By integrating Roku, Fox aims to bolster its efforts to reach consumers on streaming platforms amidst intensifying competition for streaming audiences. The companies stated that the merger will provide significant scale for both entities and will create the third-largest television company in the United States.