Fox Corporation to Acquire Roku in $22 Billion Cash-and-Stock Deal
Fox will buy the streaming platform that reaches more than 100 million households, gaining control of the home screen where viewers begin sessions. The deal is expected to close in the first half of 2027.
ForbesFox Corporation agreed to acquire Roku in a cash-and-stock deal valued at approximately $22 billion in enterprise value. The transaction is expected to close in the first half of calendar 2027, subject to shareholder approvals, regulatory approvals, and other customary conditions. Fox expects approximately $400 million in run-rate cost synergies from the deal.
The company said the transaction is expected to become accretive to free cash flow per share by the second full year after closing. Existing Fox shareholders are expected to own about 73 percent of the combined company, while Roku shareholders are expected to own about 27 percent.
Fox said it expects to fund the cash portion of the deal with new debt and cash on hand and has obtained $12 billion of committed bridge financing.
8 times, inclusive of partial credit for run-rate cost synergies. S. television viewing in March 2026, according to Nielsen’s The Gauge.
That share stood at 25 percent in 2020. S. broadband homes. Fox Corporation headquarters are located in New York City.
The acquisition is the company’s first major deal since CEO and Chairman Lachlan Murdoch took control of the media empire from his father Rupert Murdoch. Roku already carries Fox One as a Premium Subscription on The Roku Channel, including access to every FIFA World Cup 2026 match.
Fox said the purchase is less about adding another streaming service than about owning the home screen where Tubi, Fox One, and live content can be found.
The company noted that broadcast and cable still draw large live audiences, but the place where a viewing session begins has moved toward streaming.
