Deal merges Fox’s news and sports content with Roku’s 100 million household platform to bolster ad targeting and streaming growth.
Fox will acquire streaming platform Roku in a $22 billion stock and cash deal, aiming to create the third-largest U.S. television company. The transaction combines Fox’s linear and streaming assets, including Tubi, with Roku’s connected TV audience of 100 million households.
Fox acquired Tubi for $440 million in 2020 amid fierce streaming competition. The company later launched Fox One, its direct-to-consumer service, as the industry shifted toward ad-supported and subscription models.
The deal is expected to enhance Fox’s ad-targeting capabilities and reduce reliance on traditional distribution. Fox CEO Lachlan Murdoch called the acquisition a “defining” moment, positioning the company for growth in connected TV and streaming subscriptions.