Fox Acquires Roku in Major Streaming Deal
▼ Summary
– Fox is acquiring Roku in a $22 billion deal.
– The combined entity will merge Fox’s TV networks and Tubi with Roku’s devices and software, becoming the third-largest US TV player by viewing share.
– Roku will remain an open platform, and Fox is committed to distributing its content widely.
– Fox CEO Lachlan Murdoch called the deal a defining moment, while Roku CEO Anthony Wood said it will accelerate their vision.
– The deal is expected to close in the first half of 2027, pending regulatory approval.
Fox has officially announced its outright acquisition of Roku in a blockbuster deal that values the streaming platform at $22 billion. This merger will combine Fox’s television networks and its free ad-supported streaming service, Tubi, with Roku’s extensive hardware lineup, smart TV operating system, and The Roku Channel. According to a joint press release, the combined entity is poised to become the third-largest player in the U.S. TV industry by viewing share.
Despite the scale of the acquisition, the companies emphasize that this is not a move toward a closed ecosystem. Roku founder and CEO Anthony Wood, who will remain in his role and join Fox’s board of directors, stated during an investor call that Roku “will continue to operate as an open, partner-friendly platform supporting the entire streaming ecosystem.” Fox, for its part, has committed to the “continued ubiquitous distribution” of its own content across all platforms, according to the release.
“This is a defining moment for Fox, and a natural extension of the deliberate and focused strategy we have been executing for nearly a decade,” said Fox CEO Lachlan Murdoch in a statement. “Today, we take the next step: bringing together the most valuable live content portfolio in video consumption with the preeminent streaming platform through which America watches it.”
Wood echoed that sentiment, reflecting on Roku’s journey. “Over the past two decades, we’ve built Roku into the leading TV streaming platform, reaching more than 100 million households globally and reshaping how people discover and enjoy entertainment,” he said. “I’m incredibly proud of what our team has built, and the combination with Fox is an extraordinary opportunity to accelerate our vision, scale faster and innovate more aggressively for viewers, partners and advertisers.”
The transaction is expected to close in the first half of 2027, pending regulatory approval. In the current political and regulatory climate, observers suggest that U. S. antitrust hurdles are unlikely to derail the deal.
Update, June 15th: This article has been updated to include Anthony Wood’s comments from the investor call.
(Source: The Verge)
