Fox’s $22 Billion Roku Deal Approved by Shareholders of Both Companies
Shareholders of Fox Corp. and Roku have approved Fox’s proposed $22 billion acquisition of the streaming platform, clearing an important step towards the deal. The acquisition would expand Fox’s presence in streaming and digital video advertising, including through the free, ad-supported services Tubi and the Roku Channel.
Fox shareholders backed the agreement overwhelmingly: 99.9% of votes cast by holders of voting Class B shares were in favour, with 197.4 million shares for and 71,891 against. Fox agreed to pay $160 per Roku share, using about $14.2 billion in cash and the remainder in Fox Class A shares. Fox expects the deal to close in the first half of 2027, subject to regulatory approval; the US Justice Department has requested additional documents, extending the antitrust review period.
- Shareholders at both companies approved Fox’s proposed $22 billion Roku acquisition.
- Fox shareholders cast 99.9% of voting Class B shares in favour.
- Regulatory review remains; Fox expects completion in the first half of 2027.
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Fox Corp is the US media company behind the Fox television network and the streaming service Tubi, which offers films and programmes free with adverts. Roku makes streaming devices and runs a platform that gives viewers access to online video services; it also operates the free, ad-supported Roku Channel.
Fox and Roku both earn money from digital video advertising, alongside other parts of their businesses. Combining them would bring Roku’s platform and advertising business into Fox, expanding Fox’s role in streaming. The deal also involves a mix of cash and Fox shares, and needs regulatory approval before it can be completed.
Both sides, in good faith
The strongest fair case each way — we don't pick a winner.
The case for
Supporters could argue that the acquisition gives Fox a larger streaming audience and stronger digital advertising capabilities by combining Roku’s platform with services such as Tubi. Shareholder approval suggests investors see potential in the deal, while the cash-and-shares offer provides Roku investors with a substantial payment and a stake in Fox’s future.
The case against
Critics could argue that a deal of this size risks reducing competition in streaming and digital advertising, potentially giving Fox greater influence over how viewers access content and how advertisers reach them. They may also question whether the price and expected benefits justify the financial and integration risks, particularly as regulatory review remains unresolved.
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