FOX Completes $22 Billion Acquisition of Roku to Build Streaming and Live Content Giant

FOX has moved forward with its acquisition of Roku, securing the streaming platform in a deal valued at roughly $22 billion in enterprise value. The purchase price came in at $160 per share, with both companies announcing the transaction on Monday, June 15.

The merger aims to unite FOX's extensive portfolio of live sports and news content with Roku's dominant position in the streaming landscape. According to the announcement, the combined entity will rank as the third-largest television player in the United States by viewership share, blending FOX's programming with its existing streaming services, Tubi and The Roku Channel.

"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 K. Murdoch. He highlighted the company's 2019 pivot toward live news and sports, followed by the 2020 acquisition of Tubi, which has grown into a major streaming success. "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."

Murdoch emphasized that FOX is pursuing the deal from a position of financial stability, maintaining its investment-grade balance sheet while continuing shareholder returns through buybacks and dividends. "This combination will transform the scope of our company into high-growth verticals and yield a step change in our overall growth profile," he added.

Roku founder and CEO Anthony Wood underscored the platform's evolution over two decades, noting it now reaches more than 100 million households globally. "The combination with FOX is an extraordinary opportunity to accelerate our vision, scale faster, and innovate more aggressively for viewers, partners, and advertisers," Wood stated. He noted that Roku's Board of Directors unanimously approved the transaction following a strategic review, citing both the premium offered to shareholders and the opportunity to benefit from the combined company's future prospects.

The acquisition represents the latest major consolidation in the streaming sector, as the media landscape continues to reshape around live content and digital distribution.