Fox Agrees $22 Billion Deal to Acquire Streaming Platform Roku
Media company Fox has agreed to acquire streaming platform Roku in a deal valued at approximately $22 billion, a move that could significantly strengthen its position in the rapidly evolving television and streaming industry.
The transaction, which values Roku at $160 per share through a combination of cash and stock, is expected to create one of the largest television businesses in the United States by viewing share.
Industry observers view the acquisition as a strategic effort by Fox to expand its digital footprint and capitalize on the growing shift of audiences from traditional television to streaming platforms.
Commenting on the deal, Fox Chief Executive Officer Lachlan Murdoch described the acquisition as a major milestone in the company’s long-term growth strategy.
“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,” Murdoch said.
He noted that Fox repositioned its business around live news and sports in 2019 and later acquired streaming platform Tubi in 2020, which has since become a significant player in the streaming market.
“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,” he added.
Roku is widely recognized as one of the pioneers of the streaming industry. The company operates the most widely used smart TV streaming platform in the United States, powering more than a quarter of connected television devices, according to industry research.
Its operating system provides users with access to a wide range of streaming applications, including services such as Netflix, Amazon Prime Video and other major entertainment platforms.
Beyond its software business, Roku also operates the Roku Channel, which offers movies, television programs and live news content. Under the proposed acquisition, the Roku Channel is expected to be combined with Fox-owned streaming service Tubi, creating a larger platform capable of competing more aggressively in the advertising-supported streaming market.
Together, the combined services would challenge major players such as Netflix and Amazon in attracting viewers and advertising revenue.
Globally, Roku serves more than 100 million households. Its competitors include Amazon Fire TV, Apple TV, Google TV and Samsung’s Tizen platform.
The acquisition comes at a time when advertising spending on streaming services continues to grow. Industry forecasts suggest that marketers will increasingly shift budgets from traditional television to digital streaming platforms over the coming years.
By combining Fox’s portfolio of live sports and news programming with Roku’s extensive streaming infrastructure and user base, the company hopes to strengthen its appeal to both viewers and advertisers.
Fox said the transaction reflects changing viewing habits, with audiences increasingly choosing on-demand streaming over scheduled television programming. However, the company emphasized that live sports and news remain among the most valuable forms of content in the media landscape.
The deal remains subject to regulatory approvals and other customary closing conditions before it can be completed.
