Fox closes $22 billion Roku deal, citing scale in U.S. TV and streaming
Fox has completed its $22 billion acquisition of Roku, wrapping up one of the biggest media deals of recent years and giving Fox a much larger presence in streaming and connected television. The close was announced Friday and brings the streaming firm, founded in 2002, formally under Fox’s ownership. Fox says the combined company now ranks as the third-largest television business in the United States by viewership.
Roku founder Anthony Wood said the company started more than two decades ago to give people a better way to watch TV, and that that mission does not change; what does change is reach and resources. He said teams will keep building and innovating as they always have, now with Fox’s support and capabilities behind them. For Fox, the purchase provides direct access to Roku’s reach of more than 100 million households. The company expects that audience to help it improve advertising targeting, strengthen its position in the fast-growing connected TV market, and reduce its reliance on traditional television distribution.
The announcement comes two months after the Justice Department issued a second request for information, asking both companies for additional data and documents as part of its antitrust review. Earlier this month, reports suggested the deal was nearing U.S. regulatory approval. Completion also arrived far sooner than the companies had signaled: when the transaction was first announced in June, they projected it would close in the first half of 2027.
Continue in the app — vote & join in ➔