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Fox Closes $22 Billion Roku Takeover, Says Streaming Platform Will Remain ‘Open Ecosystem’
Fox Corp. has completed its $22 billion acquisition of Roku, earlier than the expected 2027 date. The purchase expands Fox’s reach in streaming and digital video advertising, while the company says Roku will remain an open platform for a broad range of content providers.
Roku founder and CEO Anthony Wood will join Fox’s board and co-chair its new Digital Platforms division with Paul Cheesbrough, which includes Roku, Tubi and Fox One. Roku serves more than 100 million households. Fox expects about $400 million in annual cost savings within two years and says the deal should increase free cash flow per share by its second full year; Roku reported $4.1 billion in sales in the first nine months of 2026, up 23% year on year.
In short
- Fox has completed its $22 billion purchase of Roku ahead of schedule.
- Roku will remain open to content partners, Fox says.
- The deal brings Fox more streaming reach and digital advertising scale.
Steelman: both sides, in good faith
The strongest fair case each way — we don't pick a winner.
The case for
The acquisition could help Fox compete in streaming by combining Roku’s large household reach and advertising technology with Fox’s content and digital services. Fox says Roku will remain open to a broad range of providers, while the deal could deliver cost savings and strengthen investment in the platform.
The case against
A single owner combining a major streaming platform with its own services and content could face pressure to favour its interests, even if Roku is described as open. The scale of the purchase also brings execution and integration risks, and promised savings may come at the expense of investment or other priorities.
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