Fox (FOXA.US) Completes $22 Billion Acquisition of Roku (ROKU.US), Creating a Streaming Giant Covering Over 100 Million Households

Fox Corporation (FOXA.US) announced on Friday that it has completed its $22 billion acquisition of streaming platform Roku (ROKU.US). The acquisition combines Fox's live sports, news, and local television programming with Roku's smart TV platform, further expanding Fox's footprint in the streaming market and creating a television and streaming giant covering more than 100 million households. Fox said that by integrating the two businesses, the new company will be able to reach more than 100 million households, combining traditional television content with an internet television distribution platform to provide viewers and advertising partners with richer services. The transaction also means Fox is further strengthening its position in the connected TV market. Roku has a mature smart TV operating system and streaming content distribution platform, while Fox possesses rich content resources in sports, news, and local television programming. The integration of the two businesses is expected to enhance Fox's ability to create synergies between the traditional television and streaming markets. Fox Chief Executive Lachlan Murdoch said in a statement: "Starting today, the merged company's top priority is to continue serving viewers and partners with full commitment, while reinforcing the core principles of openness and choice that are central to the Roku platform." Under the management arrangements following completion of the transaction, Roku founder Anthony Wood will join Fox's board of directors and serve as co-chairman of the newly established Fox Digital Platforms division. The new division will integrate several of Fox's digital businesses, including Roku, free ad-supported streaming platform Tubi, streaming service Fox One, and content production company Red Seat Ventures. Among them, Tubi primarily offers free, ad-supported streaming content, Fox One is Fox's streaming service, and Red Seat Ventures focuses on podcast and other digital content production. By bringing these businesses together under the Fox Digital Platforms division, the company will further integrate content production, streaming distribution, and digital platform resources to drive coordinated development between its traditional television business and emerging digital businesses. The acquisition is also an important move in Fox's continued expansion of its digital media business in recent years. In 2025, Fox launched the Fox One streaming service and acquired Red Seat Ventures to further expand its digital content and streaming businesses. Now, with Roku officially joining, Fox's position in connected TV platforms and streaming content distribution has been further strengthened. Against the backdrop of traditional pay-TV subscribers continuing to shift to internet streaming services, media companies with both content resources and distribution platforms are seeking to enhance competitiveness through business integration. For Fox, acquiring Roku not only expands its household user reach but also enables the company to combine its traditional strengths in sports, news, and local programming with a connected TV platform, further expanding the development space for digital advertising and streaming businesses. With the $22 billion transaction officially completed, Fox's future focus will shift to integrating the businesses of its digital platforms and how to leverage Roku's user reach to drive content distribution and monetization growth.