Fox to Acquire Roku for $160 Share, Creating $22B Streaming Powerhouse
FOX•Fox Corporation will acquire Roku for $160 per share in cash and stock, valuing the streaming platform at a $22 billion enterprise value. The combined business will reach over 100 million households and form the third-largest U.S. television provider while Fox maintains its investment-grade rating and capital return program.
1. Deal Terms and Structure
Fox Corporation has agreed to acquire Roku at $160 per share in a combination of cash and Class A common stock, valuing Roku at an enterprise value of approximately $22 billion. The transaction is expected to close later in 2026 following customary regulatory approvals.
2. Strategic Rationale and Scale
The merger unites Fox's leading live sports, news and entertainment assets—including NFL, MLB, NASCAR and Fox News—with Roku's streaming platform reaching over 100 million households. This combination positions the company as the third-largest U.S. TV provider across broadcast, cable and streaming environments.
3. Financial Profile and Shareholder Returns
Fox will maintain its investment-grade credit rating and continue its shareholder capital return program of dividends and buybacks uninterrupted. The deal enhances Fox's exposure to high-growth connected TV advertising and subscription revenue streams while preserving balance sheet strength.
