Roku Stock Jumps as Fox Agrees to $22 Billion Buyout — Here’s What We Know

TLDR

• Fox Corp has agreed to acquire Roku in an all-cash-and-stock deal valued at approximately $22 billion
• Fox will pay $160 per share — an 11.4% premium to Roku’s last closing price
• The deal structure includes $96 in cash plus 0.9693 Fox Class A shares per Roku share
• The transaction is expected to close in the first half of 2027
• The deal combines Fox’s sports, news, and entertainment content with Roku’s streaming TV platform

Fox Corporation has agreed to buy Roku in a deal worth roughly $22 billion, the companies confirmed Monday.

Fox will pay $160 per share for Roku — an 11.4% premium to its last closing price. Roku stock had been trading around $143 before the announcement.

The purchase price breaks down to $96 in cash and 0.9693 Fox Class A shares for each Roku Class A and Class B share.

The deal is expected to close in the first half of 2027, subject to regulatory approval.

Roku, Inc., ROKU

Fox CEO Lachlan Murdoch called it “a defining moment” for the company. He said the acquisition is a “natural extension” of a strategy Fox has been building for nearly a decade.

Murdoch added the deal will “transform the scope” of Fox into high-growth verticals and deliver a “step change” in its overall growth profile.

What Fox Gets From the Deal

Roku brought in $613 million in advertising revenue in the first quarter of 2026, up 27% year-on-year. Advertising is the largest part of Roku’s business, with the rest coming from subscription revenue through apps on its platform.

Roku’s platform connects streaming services like Netflix and YouTube to TVs through its devices and smart TV software. It has become one of the more widely used TV operating systems in the U.S.

The acquisition gives Fox a direct connection to that audience base, layering its own content — including Fox News, Fox Sports, and its Tubi streaming service — onto Roku’s platform infrastructure.

Fox’s Tubi free ad-supported streaming service has been one of its faster-growing assets in recent years, and the Roku platform reach could expand that further.

Deal Structure

The merger involves Fox paying a mix of cash and stock. Each Roku shareholder receives $96.00 in cash plus just under one Fox Class A share.

The combined structure values Roku at $160 per share. That 11.4% premium reflects a moderate markup over where Roku was trading before news of the deal broke.

The deal is structured to close shortly before the merger’s effective time, with Fox issuing new Class A shares as part of the consideration.

Regulatory review will be a key factor in timing, with the companies targeting a first-half 2027 close.

Fox and Roku confirmed the agreement on Monday, June 15, 2026.

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