Fox Corp unveils $22B agreement to acquire Roku, expanding connected-TV footprint

Fox Corp announced a definitive agreement to acquire Roku in a deal valued at $22 billion, a move that would combine two major players in the connected-TV advertising and streaming ecosystem. The announcement, made by Fox Corp and reported by Deadline on June 15, would see Fox purchase Roku for $160 per share through a combination of cash and Fox Class A stock.

Under the terms described in the announcement, Fox would pay shareholders at a stated per-share price to complete the acquisition of Roku, a company whose platform supports streaming access on televisions and other connected devices. The reported structure ties the purchase consideration to both cash and Fox equity, linking Roku’s ownership change to Fox’s Class A share issuance.

Roku would be folded into Fox’s existing streaming and distribution operations. Deadline reported that Fox already owns Tubi, another connected-TV and streaming service positioned as a rival to Roku, meaning the acquisition would further concentrate Fox’s presence across the television viewing pathway.

The scale of the transaction represents a major shift in the competitive landscape for how households discover and watch video content. Roku’s platform is widely used by viewers to access streaming services, and it operates at the interface between content providers, advertisers, device ecosystems, and consumer interfaces.

The agreement is presented as a definitive deal, indicating that Fox and Roku have progressed beyond initial talks. The practical effect, if completed, would be for Roku to become part of Fox’s broader media holdings, potentially changing how Roku services are supported and marketed and how Fox integrates its streaming products across devices.

For viewers and media industry participants, the acquisition would primarily affect distribution channels, ad inventory access, and the corporate ownership of the connected-TV gateway. Any change at that level typically requires time to execute and would be handled through the acquisition process after the parties reach final operational and legal completion milestones.