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Fox Strikes $22 Billion Deal to Acquire Roku in Major Media Bet on Streaming and Advertising

By  |  June 15, 2026
Fox Strikes $22 Billion Deal to Acquire Roku in Major Media Bet on Streaming and Advertising

Fox Corp. has agreed to acquire streaming platform Roku in a deal valued at approximately $22 billion, underscoring the continued consolidation reshaping the media landscape as companies seek new avenues for growth amid shifting viewer habits.

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    The transaction, announced Monday, values Roku at $160 per share through a combination of cash and stock. According to CNBC, Fox intends to finance the cash component of the acquisition using existing cash reserves along with newly raised debt. The company said it secured a $12 billion loan to help fund the purchase.

    Investors reacted swiftly to the news. Fox shares fell roughly 13% in premarket trading, while Roku stock gained about 2%, per CNBC.

    The acquisition would unite Fox’s portfolio of news and sports programming with Roku’s streaming ecosystem. The deal also combines Fox-owned free ad-supported streaming service Tubi with The Roku Channel, Roku’s own free streaming offering that operates under a similar model.

    Fox Chief Executive Lachlan Murdoch described the agreement as a “defining moment” for the company on Monday. According to CNBC, the proposed takeover represents Fox’s most significant transaction since its landmark sale of entertainment assets to Disney in a $71 billion deal about seven years ago.

    Since that Disney transaction, Fox has largely focused on its core television operations, including the Fox broadcast network and Fox News Channel. The broadcast network has been airing FIFA World Cup coverage since last week, while Fox News remains one of the company’s central cable properties.

    Fox entered the free streaming arena in 2020 with its $440 million acquisition of Tubi. The service became the company’s primary response to the intensifying streaming competition before Fox later introduced Fox One, its direct-to-consumer platform that launched last year.

    Murdoch highlighted the longstanding relationship between the two companies during a call with investors Monday. He noted that Fox was both “an early investor in Roku and a longtime commercial partner.”

    He also said that since 2019 Fox has “reoriented” the company, centering it around live news and sports while emphasizing efforts to strengthen advertising-driven revenue streams.

    Source: CNBC