Fox Corp. said Friday it has completed its $22 billion acquisition of streaming platform Roku, closing the deal far earlier than the first half of 2027 target the two companies set when the agreement was announced in June. The move reshapes the connected-TV landscape and gives Fox direct access to more than 100 million households worldwide.
Roku founder and CEO Anthony Wood will join Fox's board of directors and will serve as co-chair of Fox Digital Platforms, a newly formed division that bundles Roku, Tubi, Fox One, Red Seat Ventures and other digital products and services. Paul Cheesbrough becomes co-chair and CEO of that division.
Fox says Roku will stay an open ecosystem
Fox pledged to preserve Roku as a leading open ecosystem for the wider streaming industry. In practice, that means Fox says it will not automatically give exclusive or preferential placement to Fox News or the Fox One streaming bundle on Roku devices.
The deal dramatically increases Fox's streaming footprint and gives the company more scale in free, ad-supported streaming through Tubi and the Roku Channel. Fox says the combined company now ranks as the third-largest television business in the U.S. by viewership, and it gains a stronger position in digital video advertising and as a distributor of premium subscription services.
The $22B deal in numbers
The size and speed of the transaction make it one of the biggest media deals in recent years. Fox first announced the agreement in June, and just two months ago the U.S. Department of Justice issued a second request for information, asking both companies to hand over additional data and documents as part of an antitrust review.
Earlier this month, reports suggested the deal was nearing U.S. regulatory approval. Friday's announcement confirms it cleared.
