Fox to – Fox has agreed to acquire Roku in a $160-per-share deal valued at roughly $22 billion, combining Fox’s sports, news and entertainment content with Roku’s connected-TV devices and digital ads business. The deal would give Fox access to more than 100 million TV-
Fox didn’t just announce a streaming upgrade Monday—it pushed straight into the gatekeeper business.
The company said it has entered an agreement to acquire Roku for a mix of cash and stock. Roku will receive $160 per share, a deal that gives it an enterprise value of around $22 billion, Fox said.
Fox’s move comes as streaming competition intensifies and as distribution platforms become more valuable than the content itself. The transaction is also already reshaping the market picture: Fox shares were trading down by about 10% in premarket trading, while trading of Roku’s shares was halted.
For Fox, the bet is about combining its media library with Roku’s reach. Fox said the deal will link its sports, news, and entertainment content with Roku’s connected-TV devices and digital ads business.
In a statement, Fox CEO Lachlan Murdoch called the deal “a defining moment for the company.” He said, “This combination will transform the scope of our company into high-growth verticals and yield a step change in our overall growth profile.”
The platform payoff is immediate in the numbers Fox highlighted. Fox said acquiring Roku would give it access to more than 100 million households worldwide that stream TV across a variety of apps using Roku’s platform. Fox also said it expects to become the third-largest player in US TV by share of viewing once the deal completes. with that outcome targeted for the first half of 2027.
Fox’s history in streaming shows how it arrived at this point. In 2020, Fox acquired the ad-supported streaming service for $440 million. Last year. it launched Fox One. its own subscription livestreaming service. which it is currently using to broadcast the World Cup. along with its news and entertainment programming.
Even with Fox taking control of Roku, the company said it intends to keep the platform open. Fox said it is committed to continuing to operate Roku as “an open partner-friendly platform.”
Not everyone is buying the idea that this is purely a partnership expansion. Lightshed Partners media analyst Rich Greenfield described Fox’s plan in sharper terms during an interview on CNBC on Monday. saying Fox was acquiring a “TV gatekeeper.” He added that anyone trying to build a streaming service must “play ball with Roku. ” arguing: “Whether it’s Netflix. whether it’s Paramount+. whether it’s Prime Video. anyone who wants to have a streaming service has to play ball with Roku.”.
The agreement is expected to close in the first half of 2027—putting Fox’s streaming ambitions on a timeline that is now measurable. not theoretical. Whether the deal ultimately expands viewing share without restricting access will depend on how Fox handles the tension at the heart of Roku’s platform: openness for partners. versus leverage for the owner.
Fox Roku streaming connected-TV digital ads Lachlan Murdoch Fox One World Cup acquisition cash and stock deal $160 per share $22 billion enterprise value viewing share 2027
So Fox is buying the remote company now? Wild.
I don’t even get why Roku is worth $22B like… it’s just a TV thing right? But I guess ads and all that, idk. If Fox owns it too, we’re about to see less options or more forced ads.
Wait Roku was the one doing the streaming channel stuff right? So this is basically Fox buying viewers, not content. Also the article says Fox shares down 10% and Roku halted… that sounds like something’s gonna blow up later.
Roku deal for $160 a share, huh. I swear every company is buying something now and calling it “verticals” and “high-growth”. First half of 2027—so basically we all just keep paying subscriptions while the commercials get smarter. Next they’ll be like “we enhanced your experience” and it’ll be 4 more ad breaks.