Fox Corporation to Acquire Roku for $22 Billion Fox Corporation’s surprise $22bn agreement to buy streaming platform Roku marks one of the most aggressive bets yet on the future of television, setting up a new heavyweight just as audiences abandon traditional cable.

Early talks and market reaction

Rumours of a potential sale had already buoyed Roku’s share price, which jumped 24 per cent after reports that the company was in talks with suitors. On June 15, Fox confirmed it would acquire Roku for $160 per share in a cash-and-stock transaction worth $22bn, a move that “spooked investors over the cost of the deal and sent shares down more than 16 per cent.”

The strategic announcement

Fox formally announced that it is “acquiring Roku outright, in a deal that values the streaming company at $22 billion,” combining Fox’s TV networks and Tubi streamer with Roku’s devices, TV software and The Roku Channel. Executives said the combined company will become “the third-largest player in the US TV industry by viewing share,” leveraging Roku’s reach into “more than 100mn global streaming households, including more than half of US broadband households.”

Fox chief executive Lachlan Murdoch framed the move as “a defining moment for Fox, and a natural extension of the deliberate and focused strategy we have been executing for nearly a decade,” arguing the company is now “bringing together the most valuable live content portfolio in video consumption with the preeminent streaming platform through which America watches it.”

Platform openness and industry context

Roku founder and CEO Anthony Wood, who will remain and join Fox’s board, stressed that Roku “will continue to operate as an open, partner-friendly platform supporting the entire streaming ecosystem,” even as home-screen promotions “will obviously now include Fox properties,” such as deeper integration of Fox Sports.

Analysts noted Fox is not just buying a streamer but “a scaled CTV platform, a major ad-supported streaming destination, and a television OS with valuable viewing, distribution and measurement data.” The deal arrives amid a broader consolidation wave, following US approval of Paramount’s proposed $111bn acquisition of Warner Bros Discovery, underscoring how rapidly the media landscape is being reshaped.

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