Fox Corporation announced it will acquire Roku for approximately $22 billion, valuing the streaming device company at $160 per share. This acquisition is subject to regulatory approval.
The deal aims to create the third-largest player in the U.S. television market, based on viewer share. Fox CEO Lachlan Murdoch stated the acquisition is a natural extension of the company’s strategy over the past decade and will bring together Fox’s live content portfolio with Roku’s streaming platform.
Murdoch described this as a defining moment for Fox, asserting that the combination will transform the company’s growth profile by expanding into high-growth verticals. Fox anticipates gaining access to the expanding advertising and streaming subscription markets through this merger.
Roku will continue to operate as its own “partner-friendly platform.” The Roku Channel serves over 100 million households worldwide, with the acquisition expected to enhance Fox’s audience reach for both live content and streaming.
Fox plans to fund the acquisition through a mix of cash and its Class A common stock. Roku CEO Anthony Wood expressed pride in the company’s achievements and emphasized that the partnership presents an extraordinary opportunity to accelerate growth and innovation for both viewers and advertisers.
Roku recently updated its homescreen for the first time in ten years, adding features such as increased personalization and a “top picks” section, though the overall design remains largely unchanged.
