Fox Corporation announced on Friday, November 6 that it had completed its $22 billion acquisition of Roku, a deal that accelerates the media company’s shift toward digital streaming and advertising. The transaction, originally slated for completion in the first half of 2027, was finalized months ahead of schedule, according to company statements.
The acquisition grants Fox access to Roku’s platform, which serves over 100 million households globally, positioning the broadcaster to expand its digital audience and enhance targeted advertising capabilities. Fox, traditionally reliant on cable TV, now gains direct access to streaming households amid the ongoing decline of traditional pay-TV services. The deal includes Roku’s free ad-supported streaming services, The Roku Channel and Tubi, which together rank as the second- and third-largest free streaming platforms in the U.S. by viewership, trailing only YouTube.
Fox expects the acquisition to generate approximately $400 million in annual cost savings within two years, driven by operational efficiencies. The company has pledged to maintain Roku’s open platform model, ensuring competitors’ content remains available on the platform. Lachlan Murdoch, Fox’s Executive Chair and CEO, stated in a release that the combined company’s priority is to “relentlessly serve audiences and partners while reinforcing the openness and choice that is the essence of the Roku platform.”
Roku’s founder, Anthony Wood, will join Fox’s board of directors as part of the agreement. The deal’s valuation includes debt, reflecting the scale of the transaction. Fox already owns Tubi, a free ad-supported streaming service that achieved profitability in the prior year. The acquisition is seen as a strategic move to compete in the rapidly evolving streaming landscape, where traditional media companies are increasingly investing in digital platforms to offset declines in linear TV revenue.