Fox is leveling up in the streaming game with a $22 billion dollar purchase of Roku. Yes, you read that figure right. That’s a whole lotta billions for Roku, the popular TV streaming platform that around 100 million people use. Fox will acquire Roku for $160.00 per share in a combination of cash and Fox Class A common stock, in case you are wondering where that amount came from. Combining Fox’s stacked lineup of sports, entertainment, and news shows with Roku devices and its streaming channels is a big deal. It will make Fox more competitive with giants like Netflix, Disney+, and HBO Max.
“This is a defining moment for Fox, and a natural extension of the deliberate and focused strategy we have been executing for nearly a decade,” said Fox CEO Lachlan Murdoch. “Today, we take the next step: bringing together the most valuable live content portfolio in video consumption with the preeminent streaming platform through which America watches it.”
And, in case you are wondering, the competitor apps on Roku will continue to be available for consumers. The deal that Fox struck to buy Roku for $22 billion will likely finalize in early 2027, so we will have to wait and see what comes of this partnership.