Fox Corporation announced Friday that it has completed its acquisition of Roku, Inc., formally bringing the streaming platform under Fox ownership. The deal was first announced in June and was reported by TechCrunch to be valued at about $22 billion.
In its announcement, Fox said the combination pairs its live sports, news, and local programming with Roku’s open connected TV platform, which reaches more than 100 million households. The company expects to achieve approximately $400 million of run-rate cost synergies within two years of closing, and anticipates the transaction will be accretive to free cash flow per share by the second full year.
“The closing of this acquisition advances the long-term strategy of FOX,” Lachlan K. Murdoch, Fox Corporation’s executive chair and chief executive officer, said in the announcement. He said the priority for the combined company is serving audiences and partners while “reinforcing the openness and choice that is the essence of the Roku platform.”
Roku founder Anthony Wood will join the Fox board of directors and serve as co-chair of FOX Digital Platforms, a newly formed division that includes Roku, Tubi, FOX One, and Red Seat Ventures. Paul Cheesbrough becomes co-chair and CEO of the division.
“We started Roku more than two decades ago to give people a better way to watch TV, and that mission doesn’t change today,” Wood said in the announcement. “What does change is our reach and resources.”
Fox said Roku will continue operating as an open platform for the broader streaming industry, preserving the choice it offers viewers and content partners.
The close arrives well ahead of schedule. When the deal was announced, the companies projected completion in the first half of 2027, and the Justice Department issued a second request for information as part of its antitrust review two months ago, TechCrunch reports. The deal follows a wave of consolidation across local and streaming TV, including Nexstar’s $6.2 billion acquisition of Tegna.
