Fox Corp. acquires Roku for $22 billion in streaming consolidation deal
Fox Corporation announced a $22 billion cash-and-stock deal to acquire streaming platform Roku, valued at $160 per share. The acquisition combines Fox’s sports, news, and Tubi assets with Roku’s connected-TV platform and 100 million household user base, creating the third-largest U.S. television player by viewing share. Fox expects $400 million in cost synergies and will fund the cash portion with $12 billion in bridge financing. The deal, approved by both boards, is expected to close in the first half of 2027 pending shareholder and regulatory approvals.
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Fox Outbids Netflix to Acquire Roku, Both Stocks Decline on Market Skepticism
Fox Corp. announced a $22 billion cash-and-stock deal to acquire Roku at $160 per share, representing a 33.7% premium. The acquisition, expected to close in early 2027, gives Fox access to over 100 million streaming households and associated advertising infrastructure. Despite strategic merit, the market reacted negatively: Fox shares dropped 16.8% on announcement day and another 5.9% the following week, totaling a ~25% decline over two weeks due to investor concerns about the $12 billion in new debt and risk profile changes. Netflix, which conducted preliminary due diligence on Roku but did not bid, saw its stock fall from M&A anxiety as investors worry about the company's shift away from organic growth. The article highlights the streaming consolidation era accelerating with rising deal prices.
Yahoo FinanceFox Outbid Netflix to Buy Roku; Both Stocks Fall on Deal Concerns
Fox Corp. announced a $22 billion cash-and-stock deal to acquire Roku at $160 per share, a 33.7% premium. The strategic acquisition would give Fox access to over 100 million streaming households and Roku's advertising infrastructure. Despite the strategic rationale, Fox stock dropped 16.8% on the announcement day due to investor concerns about the $12 billion in new debt taken on for the deal, funded by Morgan Stanley. Netflix also reportedly conducted preliminary due diligence but decided against a formal bid, partly due to antitrust concerns over owning the operating system that hosts other streamers. Interestingly, Roku was originally incubated inside Netflix and spun off in 2008. The failure of Netflix's bid has sparked M&A anxiety among investors, signaling that the streaming consolidation era is advancing rapidly with large price tags and unexpected players.
Yahoo FinanceMurdoch’s $23 Billion Bet Could Change Everything for Fox
Fox (FOXA) is acquiring Roku (ROKU) at $160 per share in a cash-and-stock deal valued at roughly $23 billion, with Fox shareholders owning 73% of the combined entity and a targeted close in early 2027. Analyst Rich Greenfield of LightShed Partners argues Fox is bypassing the costly streaming arms race by buying the dominant TV operating system gatekeeper, as Roku software powers about 44-45% of all US streaming time. The deal puts pressure on rivals like Netflix, which must negotiate with Roku for distribution access. Fox aims for $400 million in annual cost synergies and free cash flow accretion within two years after closing. Lachlan Murdoch's move answers Fox's post-linear TV strategic question by securing a distribution platform that every streamer needs to reach viewers.
Yahoo FinanceFox's $22 Billion Roku Acquisition Highlights Disciplined Media Strategy
Forbes analysis examines Fox Corp.'s $22 billion acquisition of Roku, announced on June 17, 2026, as a defining moment for the company. The deal pairs Fox's content with Roku's dominant connected-TV platform, creating a combined entity that would rank behind only YouTube and Disney in U.S. TV viewing share and command about 14% of U.S. television ad spending. The acquisition reflects Fox's long-standing strategy of prioritizing audience loyalty, live programming, and steady growth over risky experiments. Fox CEO Lachlan Murdoch described the transaction as a natural extension of the company's deliberate strategy. The article highlights Fox's previous successes including Tubi's growth to over 100 million monthly active users, the FOX One streaming service, and lifestyle ventures like the Fox News Wine Shop. Analysts estimate the combined company would become the second-largest connected-TV advertising business in the U.S., gaining access to Roku's audience data and automatic content recognition technology.
Forbes - BusinessFox to acquire streaming device maker for $22 billion
Fox Corporation announced a $22 billion deal to acquire Roku, the streaming hardware and software platform, at $160 per share. The acquisition, expected to close in the first half of 2027, positions Fox to control the home screen interface used by over 100 million households globally. Roku shareholders will receive $96 cash and 0.9693 Fox shares per Roku share. Fox intends to fund the cash portion through $8 billion in new debt and existing cash. The deal is projected to generate $400 million in annual cost savings. Fox CEO Lachlan Murdoch described it as a defining moment and a natural extension of Fox's strategy. Roku founder Anthony Wood will remain in a leadership role and join Fox's board. Both companies emphasized the platform will remain open and partner-friendly, with services like Netflix and Disney+ still accessible.
Yahoo FinanceFox Stock Extends Slide to Second Day After Roku Deal
Fox Corp stock continued to fall for a second consecutive day following the broadcaster's announcement on Monday of a $22 billion agreement to acquire streaming technology company Roku. The deal, which involves Fox buying Roku, has led to a sustained decline in Fox's share price. The article, published on June 16, 2026, by Barron's and distributed via Yahoo Finance, notes the market reaction to the acquisition. The stock slide reflects investor concerns or adjustments related to the large transaction. The report also lists related stocks including FOXA, ROKU, NFLX, and CMCSA, indicating broader market interest in the streaming and media sector.
Yahoo FinanceFox to Acquire Roku for $22 Billion in Cash and Stock Deal
Fox Corporation (FOXA) has agreed to acquire Roku (ROKU) in a deal valued at $96 in cash plus 0.9693 FOXA shares per Roku share, implying an enterprise value of approximately $22 billion. The combination aims to integrate Fox's content library with Roku's streaming platform, though the author, Max Greve, expresses skepticism. Greve cites execution risks and an insufficient premium for Roku's subscription growth potential as reasons for closing long positions in both Fox and Roku. The analysis suggests that while Fox is obtaining a valuable business at a discount, the risks of successfully merging the two companies and realizing projected synergies remain significant. The article overall serves as a critical take on the acquisition from an investment perspective.
All Articles on Seeking AlphaFox Buys Roku in $22 Billion Cash-and-Stock Deal
Fox Corporation has agreed to acquire streaming device company Roku in a $22 billion cash-and-stock deal, valuing Roku shares at $160 each—an 11% premium. Roku shares rallied as the deal solves its strategic weakness against big tech platforms like Amazon and Google by combining its operating system with Fox's content library, creating a major TV platform. Conversely, Fox shares plunged due to plans to finance 40% of the deal with equity and take on $8.3 billion in new debt, raising concerns about dilution and balance sheet strain. Wall Street had a consensus 'Strong Buy' on Roku with a mean target near $149, below the deal price, indicating the premium exceeded near-term standalone expectations.
Yahoo FinanceFox to Buy Roku at $22 Billion Value in Streaming Video Push
Fox Corp. has agreed to acquire Roku Inc. in a deal valued at approximately $22 billion, including debt, marking a major push into ad-supported streaming. The acquisition will combine Fox's sports, news, and entertainment channels, along with its free ad-supported service Tubi, with Roku's streaming platform, which has over 100 million subscribers. The companies stated that the merger will create the third-largest player in the U.S. television market by viewing share, spanning broadcast, cable, local, and streaming. Fox CEO Lachlan Murdoch said the deal will transform the company into high-growth verticals and significantly improve its overall growth profile. The announcement was made on June 15, 2026.
Yahoo FinanceFox Stock Drops 15% After $22 Billion Roku Acquisition Announcement
On June 15, 2026, Fox Corp announced an agreement to acquire Roku for $22 billion in enterprise value ($25 billion equity), representing a 28% premium to Roku's pre-deal price. The deal is to be 60% cash and 40% equity funded, with Fox taking on $8.3 billion in new debt and issuing 152 million class A shares. Following the announcement, Fox's stock fell over 14% on concerns about shareholder dilution and exposure to Roku's low-margin hardware business, according to analysts at Madison Wall. Roku, the leading connected TV platform with 44% U.S. market share, generated roughly $5 billion in annual revenue split between advertising, subscriptions, and device sales. The acquisition would make Fox the third-largest media provider in TV viewership, surpassing Paramount Skydance and Netflix. The article questions whether the stock decline presents a buying opportunity.
Yahoo FinanceRoku Is Being Acquired by Fox Corporation: What Investors Need to Know
Fox Corporation has agreed to acquire Roku in a cash-and-stock deal valued at $22 billion, or $160 per share. Fox will pay $96 in cash and 0.9693 Fox shares per Roku share. Fox shareholders will own about 73% of the combined company, while Roku shareholders will own about 27%. The deal, unanimously approved by both boards, is expected to close in the first half of 2027. Roku founder and CEO Anthony Wood will have an ongoing role and join Fox's board. The acquisition combines Roku's streaming platform, which has over 100 million households and a top-10 ad-supported channel, with Fox's leading live news and sports portfolio. Despite the positive strategic rationale, both Roku and Fox stocks traded lower on the announcement day.
Yahoo FinanceFox Corp. to Acquire Roku for $22 Billion
Fox Corp. announced on Monday its acquisition of streaming company Roku for $22 billion. Under the terms of the deal, Fox will pay $96 in cash and 0.9693 shares of its Class A common stock for each outstanding Roku Class A and Class B share. The transaction values each Roku share at approximately $160. The acquisition marks a significant move by Fox to expand its presence in the streaming market, combining Fox's content library with Roku's platform and user base. The deal is subject to regulatory approvals and customary closing conditions.
Just In NewsFox Corporation announces $22B acquisition of Roku in landmark streaming and live TV deal
Fox Corporation announced on June 15, 2026, its acquisition of Roku, Inc. for $160 per share, valuing the deal at an enterprise value of $22 billion. The transaction combines Fox's live entertainment, news, and sports portfolios (including Tubi, NFL, MLB, Fox News Media) with Roku's leading TV streaming platform, used by over 100 million global households. The combined entity aims to become the third-largest player in U.S. television by viewing share. Fox will finance the deal with a mix of cash and stock, resulting in 73% ownership for Fox shareholders and 27% for Roku shareholders. Roku founder and CEO Anthony Wood will maintain a role and join Fox's Board of Directors. The deal, unanimously approved by both boards, is expected to close in the first half of 2027, pending shareholder and regulatory approvals.
Yahoo FinanceFox to Buy Streaming Giant Roku for $22bn in Lachlan Murdoch's First Megadeal
Fox Corporation, controlled by Lachlan Murdoch, has agreed to acquire streaming platform Roku for $22bn (£16bn) at $160 per share. The deal unites Fox's sports, news, and entertainment content with Roku's connected TV platform, which reaches around 100 million households globally. The combined company will become the third-largest player in US television by viewing share. Fox will operate Roku as an open platform, allowing access to rival services like Netflix and Disney. The acquisition is funded through existing cash and new debt, with Fox shareholders owning 73% of the combined firm. Expected cost savings are around $400 million, plus new revenues. Roku founder Anthony Wood will retain a role and join the Fox board. This is the first major deal for Lachlan Murdoch since winning a succession battle within the Murdoch family empire.
Yahoo FinanceFox Acquires Roku for $22 Billion in Streaming TV Consolidation Deal
Fox Corporation announced the acquisition of Roku for $22 billion, paying $160 per share in a mix of cash and stock. The deal, expected to close next year, combines Fox's news, sports, and content with Roku's streaming platform and hardware, which reaches over 100 million households. Roku's stock fell about 1% while Fox's stock dropped over 15% in early trading, contrasting with a rising Nasdaq. Fox previously acquired streaming platform Tubi in 2020 and conservative podcasting company Red Seat Ventures in 2025. The combined entity will hold 5.2% of total streaming consumption, behind YouTube, Netflix, Disney, and Amazon Prime Video. Fox CEO Lachlan Murdoch called it a defining moment, while Roku CEO Anthony Wood expressed optimism about the merger.
Yahoo FinanceFox to Buy Roku in $22 Billion Deal to Build Streaming and Live Media Powerhouse
Fox Corp. has agreed to acquire Roku Inc. in a cash-and-stock transaction valued at approximately $22 billion. Under the terms, Roku shareholders will receive $160 per share, consisting of $96 in cash and 0.9693 Fox shares. The deal combines Fox's live sports and news portfolio with Roku's connected-TV platform reaching over 100 million households globally, creating a third-largest U.S. television player by viewing share. Fox-owned Tubi and The Roku Channel will be merged into a larger free ad-supported streaming platform. Anthony Wood, Roku's CEO, will join Fox's board. Fox secured $12 billion in bridge financing from Morgan Stanley. Pro forma net leverage is expected at 2.8 times core earnings. The deal, unanimously approved by both boards, is expected to close in the first half of 2027, subject to regulatory approval. Fox shares fell 15% on the announcement.
Yahoo FinanceFox to acquire Roku in $22B deal
Fox Corporation announced it will acquire streaming company Roku in a stock and cash deal valued at approximately $22 billion, marking one of the largest media acquisitions in recent years. The merger combines Fox's news and sports channels, along with its free ad-supported streaming service Tubi, with Roku's connected TV platform that reaches 100 million households. Fox states the combined entity will become the third-largest television business in the US by viewership, capitalizing on the growth of live sports, news, and streaming. Fox CEO Lachlan Murdoch called the acquisition a 'defining' moment. Roku CEO Anthony Wood expressed excitement about accelerating the company's vision. The deal has been approved by both boards and is expected to close in the first half of 2027, with Fox securing a $12 billion loan to fund the acquisition.
Yahoo FinanceFox to acquire Roku in $22 billion deal
Fox Corporation announced on Monday that it will acquire streaming company Roku in a stock and cash deal valued at approximately $22 billion. The acquisition combines Fox's news and sports channels, along with its free ad-supported streaming service Tubi, with Roku's connected TV platform, creating what Fox says will be the third-largest television company in the United States. Fox gains access to Roku's audience of 100 million households, enabling more effective ad targeting and reduced reliance on traditional distribution. Fox CEO Lachlan Murdoch called the acquisition a 'defining' moment, while Roku founder and CEO Anthony Wood expressed excitement about accelerating the company's vision. The deal has been approved by both companies' boards and is expected to close in the first half of 2027. Fox secured a $12 billion loan to finance the transaction.
Yahoo FinanceFox to Acquire Roku in $22 Billion Deal
Fox Corporation announced an agreement to acquire Roku in a deal valued at approximately $22 billion, including debt. The acquisition significantly expands Fox's footprint in the streaming market. Roku shares had surged about 20% the previous Friday following media reports of a potential deal, but dipped slightly in early Monday trading. Fox's stock, however, fell more than 15% on the news of the takeover, reflecting investor concerns about the large acquisition. The deal underscores the ongoing consolidation in the media and streaming industry as traditional players seek to scale up their direct-to-consumer platforms.
Yahoo FinanceFox to Buy Roku for $22 Billion, Creating Third-Largest U.S. TV Player
Fox Corporation announced on Monday an agreement to acquire streaming service Roku for $22 billion, or $160 per share. The deal, which includes expected savings of $400 million, aims to expand Fox's streaming portfolio and create what the companies describe as the 'third-largest player in U.S. television.' The acquisition marks a significant consolidation in the media and streaming industry, combining Fox's traditional broadcast and cable assets with Roku's popular streaming platform and user base. The story is developing as further details emerge.
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