Fox Completes $22 Billion Roku Acquisition, Months Ahead of Schedule
Direct answer: Fox has completed its $22 billion purchase of Roku, the streaming platform found in more than 100 million streaming households in the United States. The deal closed on Friday, November 6, 2026, months earlier than first planned, and Roku shares will stop trading on the Nasdaq stock exchange.
What happened
Fox announced the deal in June 2026 and first expected it to close in the first half of 2027. It closed in under six months instead.
Roku shareholders receive $95.30 in cash and 0.9799 shares of Fox Class A stock for each Roku share they owned. After the deal, existing Fox shareholders own about 74 percent of the combined company, and former Roku shareholders own about 26 percent.
Roku now sits inside a new Fox division called Fox Digital Platforms, alongside the free streaming service Tubi, the Fox One app, and Red Seat Ventures. Roku founder Anthony Wood joins the Fox board and will co-chair the new division.
Fox says the combined company is now the third largest television business in the United States by how much people watch. Fox expects to save $400 million in costs within the first two years.
The US Justice Department reviewed the deal and asked both companies for extra information before clearing it. As part of the clearance, Fox agreed to keep Roku open and neutral for rival content, with data firewalls to protect what rival services learn from Roku users. TechCrunch and TheWrap reported the closing on November 6, and Roku’s advisers at Goodwin confirmed the deal completed that day.
Why it matters for beginners
An acquisition is one company buying another. Here Fox paid with a mix of cash and its own shares, which is common in big deals. Roku shareholders did not just get cash. They also became Fox shareholders.
The deal matters because television viewing keeps moving to streaming. Roku controls the home screen on millions of TVs, deciding which apps viewers see first. Fox now owns that home screen, plus its own streaming services Tubi and Fox One.
For viewers, the key promise is that Roku will stay neutral. Rival apps still need to work well on Roku, or viewers would leave. Fox agreed to keep it that way, and regulators will be watching.
The deal is also a useful example of how long big mergers take. Even a deal both sides want needs shareholder votes and a regulator review, and the timing can still surprise, as this one closed months early. Big deals were a theme this week: OpenAI also raised $11 billion at a $1.25 trillion valuation, as covered in our post on the OpenAI funding round.
What to watch next
Watch how Fox combines Roku, Tubi, and Fox One, and whether it bundles them or keeps them separate.
Watch whether rival streaming apps report any change in how they are treated on Roku.
Watch Fox’s next results for the first signs of the $400 million in promised cost savings.
Frequently asked questions
What did Fox pay for Roku?
About $22 billion in cash and stock. Each Roku share was exchanged for $95.30 in cash and 0.9799 shares of Fox Class A stock.
What happens to Roku shares now?
Roku shares stop trading on the Nasdaq. Former Roku shareholders now hold cash and Fox shares instead.
Will Roku still carry rival streaming apps?
Fox committed to keep Roku open and neutral, and agreed to data firewalls that protect rival services. That was part of the clearance from the Justice Department.
Why did the deal close early?
The companies announced it in June and first expected a close in the first half of 2027. The Justice Department finished its review and shareholders approved the terms in October, so the deal closed on November 6.
