Fox Corporation and Roku said on 15 June that they had entered a definitive agreement valuing Roku at about $22bn in enterprise value. The companies said Fox would pay $160 a share through a mix of cash and Fox Class A common stock, a structure that gives Roku investors both an exit price and a stake in the combined company.
The mechanics matter because this is not a simple content acquisition. Fox brings live sports, news, entertainment and Tubi; Roku brings a connected-TV operating system, streaming devices, branded televisions, The Roku Channel and an advertising business built around viewer reach. The companies said the deal is expected to close in the first half of 2027, subject to Roku shareholder approval, regulatory clearance and other closing conditions.
Table: Fox-Roku acquisition terms
| Term | Disclosed detail | Source |
|---|---|---|
| Enterprise value | About $22bn | Fox and Roku announcement |
| Offer price | $160.00 per Roku share | Fox and Roku announcement |
| Cash portion | $96.00 per share | Fox and Roku announcement |
| Stock portion | 0.9693 Fox Class A shares per Roku share | Fox and Roku announcement |
| Post-close ownership | Fox holders about 73%; Roku holders about 27% | Fox and Roku announcement |
| Expected close | First half of 2027 | Fox and Roku announcement |
Source: Fox Corporation and Roku announcement, 15 June 2026.
Fox and Roku presented the transaction as a way to combine content, advertising technology and device distribution without closing Roku's platform. Their announcement said Roku would continue to operate as an open platform, including access to Netflix, Amazon Prime Video, YouTube and other services. That assurance is central to the antitrust question, because the concern is less whether Fox owns another streaming app and more whether it could steer discovery, advertising or placement on a widely used connected-TV gateway.
Roku was already part of Fox's distribution map before the acquisition. Roku announced on 26 May that Fox One had launched as a premium subscription on The Roku Channel in the United States, including Fox Sports, FS1, FS2, Fox Deportes, Big Ten Network, the Fox broadcast network, Fox News and Fox Business. The proposed acquisition would turn that partnership into ownership of the platform carrying it.