- Fox said it entered into a deal to acquire Roku for $22 billion.
- The deal will merge Fox's sports and news networks, as well as its free ad-supported streamer Tubi, with Roku, which makes streaming devices and has The Roku Channel.
On Monday Fox announced it would acquire Roku for $160 per share in a cash and stock transaction. Fox plans to fund the cash portion of the deal with a combination of cash on hand and new debt. The company said it obtained a $12 billion loan for the transaction.
Fox's stock was trading down about 13% in premarket trading, while Roku was up about 2%.
The combination will bring together Fox's news and sports channels, as well as its free ad-supported streamer Tubi with Roku, the maker of streaming devices and also the home of The Roku Channel, a service similar to Tubi.
On Monday, Fox CEO Lachlan Murdoch called it a "defining moment" for the company.
The proposed acquisition comes about seven years after Fox's
last major deal, when it shed its entertainment assets in a $71 billion deal with Disney. Since then, Fox's portfolio has primarily been made up of its TV channels, namely broadcast network Fox, which has been airing the FIFA World Cup since last week, and Fox News Channel on cable.
In 2020 Fox acquired Tubi for $440 million. That service had long been its
answer to the streaming wars, prior to the announcement of Fox One, its direct-to-consumer option that launched last year.
On a Monday call with investors, Murdoch noted that Fox was both "an early investor in Roku and a longtime commercial partner."
He added that since 2019 Fox has "reoriented" the company, centering it around live news and sports, and emphasized the focus on driving advertising revenue.
Advertising has taken a renewed importance for media companies as they look to build up streaming platforms and lean on live sports and events, which are capturing the biggest audiences.
Fox said Monday it expects to see approximately $400 million in run-rate cost synergies from the deal with additional revenue upside. After the acquisition closes, existing Fox shareholders would own roughly 73% of the combined company and Roku shareholders would own about 27%.
The deal, which has already been approved by the boards of directors of both companies, is expected to close in the first half of 2027.<small>Source: CNBC</small>
Business
Fox to buy streaming device maker Roku for $22 billion
CNBC
June 15, 2026
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