Fox to Acquire Roku in $22 Billion Streaming Consolidation

The merger creates the third-largest television entity in the United States by integrating Fox’s expansive portfolio of news and sports channels with Roku’s massive footprint of 100 million households. By folding in Tubi, which Fox purchased for $440 million in 2020, the company plans to centralize its ad-targeting capabilities and reduce reliance on conventional broadcast delivery. CEO Lachlan Murdoch described the acquisition as a defining pivot for the firm, intended to accelerate growth within high-demand digital verticals.

Roku founder Anthony Wood will join forces with the network to scale the platform’s existing streaming infrastructure. To finance the acquisition, Fox has secured a $12 billion loan, with both boards of directors already signing off on the transition. The deal is slated to close in the first half of 2027, marking a shift toward integrated streaming and linear television models.