Fox closes $22 billion Roku deal, reshaping TV and streaming reach

Fox Corp. has completed its $22 billion acquisition of Roku, bringing the streaming platform and its data from over 100 million global households under Fox’s control. The deal merges Fox’s broadcast, news, sports, and streaming assets with Roku’s connected TV platform, aiming to create a larger media and technology group focused on live sports, news, and streaming content.

Roku will be integrated into Fox Digital Platforms, joining services such as Tubi and Fox One. Roku founder Anthony Wood will join Fox’s board and co-chair the digital platforms unit. Under the merger terms, Roku shareholders receive cash and Fox shares, while Fox shareholders now hold about 74% of the combined company, with former Roku shareholders owning the rest.

Fox executives say the move supports their strategy to serve audiences and partners, while Roku’s team sees the merger as a way to scale faster and accelerate innovation. The deal is expected to influence digital advertising, content distribution, and competition in the streaming sector.

Brand and media leaders should track how Fox uses Roku’s data and platform to adjust advertising and content strategies, and what this means for media buying and audience targeting.