Fox Completes Roku Acquisition
Fox Corporation completed its purchase of Roku on November 6, 2026, according to the company. The U.S. Department of Justice put the transaction’s value at approximately $22 billion in its account of Fox’s June 15, 2026, acquisition announcement.
Roku’s open connected-TV platform serves over 100 million households globally, Fox said, with streaming access spanning thousands of channels and apps. Roku is part of the newly created FOX Digital Platforms division, alongside Tubi, FOX One, Red Seat Ventures and additional digital services and products.
Fox announced that Roku founder Anthony Wood would become a Fox board member and serve as co-chair of the division. Paul Cheesbrough would serve as its CEO and fellow co-chair, according to the company.
According to the closing terms published by Fox, each Roku share in either Class A or Class B held immediately before completion entitled its holder to a cash payment of $95.30 plus 0.9799 shares of Fox Class A common stock. Fox said former Roku shareholders held approximately 26% of its outstanding common shares after completion, with about 74% held by existing Fox shareholders.
The Justice Department said its Antitrust Division had closed its investigation after examining competition between free streaming services funded by advertising. The review also covered whether Fox could disadvantage competing content providers through Roku’s platform. The division’s assessment was that harm to competition was unlikely, but it said changed facts or circumstances could prompt another examination of the industry.
According to the department, Fox committed to carrying content from providers outside Fox on Roku for a minimum of three years. Other commitments covered search results that do not disadvantage non-Fox content, users’ ability to change home-screen app placement, and third-party access to data products on commercially reasonable terms consistent with Roku’s standard distribution agreement.
The department also said Fox committed to preserving, for a minimum of three years, existing contractual firewalls for competitively sensitive information about non-Fox providers and their activity on Roku. Those protections cover data relating to clicks, searches, viewing and voice activity.
Roku’s September 8, 2026, SEC filing had placed its expected completion date in the first half of calendar 2027. That timetable remained conditional on regulatory waiting-period requirements and customary closing conditions, including approval by stockholders.
Fox’s closing announcement also included a cost-savings forecast: the company said it expected to reach an annualized run rate of approximately $400 million within two years of completion. That figure represented projected savings rather than an amount already achieved.
* This article is based on publicly available information at the time of writing.