Fox completes its acquisition of Roku
Nov 10, 2026
Fox Corporation (NASDAQ: FOXA, FOX) announced on Friday, November 6, 2026, that it has completed its acquisition of Roku, Inc., the streaming platform and maker of TV streaming devices.
The terms
According to Fox's press release:
- each Roku Class A and Class B share was converted into the right to receive $95.30 in cash and 0.9799 shares of Fox Class A common stock
- Fox stockholders own about 74% of the combined company, and former Roku stockholders own about 26%
- Roku shares stopped trading on Nasdaq on the closing date
The new structure
Roku is now part of a new Fox division called FOX Digital Platforms, which also includes the free streaming service Tubi, the streaming service FOX One and Red Seat Ventures, a digital content company. Paul Cheesbrough is co-chair and chief executive officer of the division. Roku founder Anthony Wood is co-chair of FOX Digital Platforms and joins the Fox board of directors.
Fox said it expects about $400 million in annual cost savings within two years of closing, and that it expects the deal to add to free cash flow per share by the second full year after closing. These are company expectations and may not be achieved.
An open platform
Fox said Roku will continue to operate as an open platform for the streaming industry. According to the release, Roku serves more than 100 million households worldwide with access to thousands of apps and channels. Lachlan Murdoch, Fox's executive chair and chief executive officer, said the priority is to "continue to relentlessly serve audiences and partners". Anthony Wood said Fox "wholly shares our commitment to staying open to every content partner".
What Fox does
Fox Corporation is a US media company. Its businesses include FOX News, FOX Sports, the FOX broadcast network and local TV stations, as well as Tubi and FOX One. Most of its revenue comes from advertising and from fees paid by TV distributors.
What Roku does
Roku makes a TV operating system and streaming devices that let viewers watch apps from many different services on their TV. It earns most of its revenue from its platform, including advertising and its share of subscription and distribution revenue, and a smaller part from selling devices.
Why media companies combine with platforms
Viewers have been moving from traditional TV to streaming. Media companies that own both content and the platforms where people watch can gain more direct access to viewers and to advertising data. At the same time, platforms that carry many competing services usually need to stay open to all content partners.
Cash-and-stock deals
In a cash-and-stock deal, the buyer pays the target's shareholders partly in cash and partly with its own shares. Shareholders of the target become shareholders of the combined company, so the value of the stock part changes with the buyer's share price.
Tubi and FOX One
Tubi is a free streaming service supported by advertising, and FOX One is Fox's subscription streaming service that offers its news, sports and entertainment channels. With Roku in the same division, Fox now owns both streaming services and a platform used to access many other services on TV.
What to watch
Key items include Fox's first results that include Roku, progress on the expected cost savings, any changes to Roku's partnerships with other streaming services and the financing of the cash part of the deal.
Risks and uncertainties
Integrating large companies can take time and may not deliver the expected savings. The streaming market is competitive, and advertising revenue can change with economic conditions. Media shares can be volatile.
What this means for investors
For Investing.one users following Fox Corporation, the completion of the Roku deal may be relevant. The information above is based on Fox's press release.
Sources
This is not investment advice. Your capital is at risk.
www.investing.one is solely and exclusively operated by Tradeplace Limited (Registration number HE 434666). Tradeplace Limited is authorised and regulated by the Cyprus Securities and Exchange Commission (License number 455/25).
The information on this website is general in nature. Please consider the information in light of your objectives, financial situation and needs.
When investing, your capital is at risk and you may get back less than invested. Past performance doesn't guarantee future results.
We do not establish accounts to residents outside of the EU/EEA area. For further details please see the Client Agreement - Terms and Conditions. For privacy and data protection related complaints and information on handling personal data please refer to our Privacy Policy.
