The agreement values Roku at $160 per share, combining cash and stock, with Fox shareholders owning 73% of the merged entity.
Fox Corporation will acquire Roku in a $22 billion cash-and-stock transaction, valuing Roku at $160 per share. The deal includes $96 in cash and 0.9693 Fox Class A shares for each Roku share outstanding. Roku shareholders will retain 27% of the combined company post-close.
The transaction, unanimously approved by both boards, is expected to finalize in the first half of 2027. Roku’s CEO Anthony Wood will join Fox’s board and maintain an ongoing role. The deal follows a 20% surge in Roku’s stock last week amid acquisition rumors.
Fox aims to merge its media assets with Roku’s streaming leadership, though market reaction details were not immediately disclosed.