What happened
Fox Corporation completed its $22 billion acquisition of Roku on November 6, 2026, closing the deal announced in June. The merger combines Fox’s broadcast, news, sports, and streaming portfolio with Roku’s open CTV platform and first-party data from over 100 million global households. The combined entity becomes the third-largest U.S. TV business by viewership, with Fox shareholders owning about 74% and former Roku shareholders about 26%. Roku stockholders received $95.30 cash and 0.9799 Fox Class A shares per share. The deal cleared regulatory hurdles early, and Fox expects $400 million in annual cost synergies, with free cash flow accretion by year two. Anthony Wood, Roku's founder, steps down as CEO to become Co-Chair of Fox Digital Platforms, alongside Co-Chair and CEO Paul Cheesbrough, creating a scaled next-generation media and technology company.
Key facts & figures
- ·Fox completed its $22 billion acquisition of Roku on November 6, 2026, ahead of schedule.
- ·Roku stockholders received $95.30 cash and 0.9799 Fox Class A shares per share.
- ·The combined entity is the third-largest U.S. TV business by viewership, leveraging Roku's 100 million global households.
- ·Fox expects $400 million in annual cost synergies, with free cash flow accretion by the second full year.
- ·Anthony Wood steps down as Roku CEO to become Co-Chair of Fox Digital Platforms, alongside Co-Chair and CEO Paul Cheesbrough.
Key questions for investors and operators
When evaluating transactions, technology stacks, or commercial partnerships in this space, we recommend looking closely at three questions:
Companies & platforms involved
Fox Corporation completed its acquisition of Roku on Friday.
Roku founder Anthony Wood steps down from the chief executive role.
The free ad-supported service Tubi is part of FOX Digital Platforms.
Red Seat Ventures is included among the assets of FOX Digital Platforms.
Fox Corp. completed its $22 billion acquisition of Roku, combining broadcast, news, sports, and streaming assets.