Fox buys streaming platform Roku
The American media group Fox Corporation has announced that it intends to acquire the streaming platform and streaming device manufacturer Roku for around $22 billion, which amounts to $160 per Roku share. The acquisition still needs to be approved by regulators and shareholders.
Fox chief executive Lachlan Murdoch described the deal as an important moment in the company’s strategy. According to him, the acquisition combines Fox’s strong position in live content – such as sport, news and entertainment – with Roku’s large streaming platform. In this way, Fox aims to grow more quickly in streaming, digital advertising and other fast-growing markets.
Roku said that even after the acquisition it will remain an open and partner-friendly platform. The company currently reaches more than 100 million households worldwide through its devices, smart TV software and the free streaming offer from The Roku Channel.
The acquisition will be paid for with a combination of cash and Fox shares. Roku founder and CEO Anthony Wood stated that working with Fox offers the opportunity to grow faster, innovate more and further expand services for viewers, partners and advertisers.
According to both companies, the combination of Fox and Roku will grow into the third largest TV player in the United States measured by viewing share. The deal is expected to be completed in the first half of 2027.
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