Fox Corporation agreed to acquire Roku for $160 per share in a cash-and-stock deal that values the streaming platform at approximately $22 billion in enterprise value, the companies said on Monday.
Each Roku share will be exchanged for $96 in cash plus 0.9693 Fox Class A common stock shares
Fox priced the stock component at $64 per Roku share, derived from a reference price of $66.03 per Fox share — the 10-day volume-weighted average as of June 10, 2026. At $160 per share total, the bid comes in 11.4% above where Roku last closed, per CNBC. Upon closing, existing Fox shareholders are expected to own approximately 73% of the combined company, with Roku shareholders holding the remaining 27%, the company said.
The transaction has been approved by the boards of both companies and is expected to close in the first half of 2027, pending shareholder and regulatory approvals. Fox expects to fund the cash portion with new debt and cash on hand. Morgan Stanley Senior Funding has provided $12 billion in fully committed bridge financing to support the acquisition.