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Fox Takes a Bold Step into Streaming
Fox Corp. is making headlines with its plans to acquire Roku, a deal valued at $22 billion. The move is seen as a major shift in Fox’s strategy as it looks to expand its presence in the evolving streaming market.
Details of the Acquisition
The acquisition, announced on June 15, 2026, involves Fox purchasing Roku at $160.00 per share. This combination of cash and Fox Class A common stock gives Roku an enterprise value of $22 billion. The deal is expected to close in the first half of 2027.
Combining Forces
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The integration of Fox’s diverse content offerings with Roku’s streaming platform aims to create a formidable player in the TV market. The partnership will leverage Fox’s sports, news, and entertainment content alongside Roku’s extensive reach in the streaming landscape, which reportedly connects over 100 million households globally.
Leadership and Future Plans
Anthony Wood, Roku’s founder and CEO, will join the Fox board post-acquisition. Both companies have expressed commitment to maintaining Roku’s open platform to ensure that it remains partner-friendly.
Financial Implications
The move comes on the heels of Roku’s first-ever full-year profit in 2025, reporting revenue of $4.74 billion and a net income of $88.4 million. Fox plans to fund the cash portion of the acquisition through a mix of new debt and cash on hand, with the backing of a $12 billion financing commitment from Morgan Stanley.
Looking Ahead
This acquisition represents a significant milestone for Fox as it works to redefine its streaming strategy. With the combined strengths of both companies, there is potential for substantial growth in this highly competitive industry.
