Fox Corporation will acquire Roku in a cash-and-stock transaction with an enterprise value of approximately $22 billion. Roku shareholders will receive $160.00 per share. This payment includes $96.00 in cash and a portion of Fox Class A common stock. Both boards unanimously approved the agreement. The companies expect the deal to close in the first half of 2027 following regulatory and shareholder approvals.
The merger combines Fox’s live sports and news with Roku’s 100 million streaming households. This new entity will integrate the Tubi and The Roku Channel services. The combined company projects to become the third-largest U.S. television player by viewing share. Fox anticipates $400 million in annual run-rate cost synergies.