Fox has announced its intention to buy Roku in a deal valued at $22 billion.
The two companies have, as of this week, entered into an agreement for the transaction that would see Roku become an “open, partner-friendly platform” owned by Fox.
Fox, of course, is the media company best known for sports broadcasting as well as Fox News – the latter for better or for worse.
In a press release, Fox and Roku explain:
The transaction combines FOX’s leading sports, news and entertainment content and the Tubi service, with Roku’s leading connected TV platform, The Roku Channel, first-party data and direct relationship with more than 100 million global streaming households. Together, FOX and Roku will create a scaled next-generation media and technology company positioned at the intersection of two of the most important forces reshaping video consumption: the enduring primacy of live sports and news, and the continued rise of streaming.
FOX and Roku are committed to continuing to operate Roku as an open, partner-friendly platform and to the continued ubiquitous distribution of FOX content. On a pro forma basis, the combined company will become the third-largest player in U.S. television by share of viewing, with an attractive mix of FOX’s sports, news, and entertainment content, alongside streaming services Tubi and The Roku Channel. That distribution and engagement scale spans every major viewing environment – broadcast, cable, local and streaming – creating broad and diversified reach that benefits viewers, partners and advertisers.
Roku CEO Anthony Wood said in a statement that “the combination with FOX is an extraordinary opportunity to accelerate our vision, scale faster and innovate more aggressively for viewers, partners and advertisers.”
The two companies point out “key strategic benefits” including increased scale and reach and creating a “more powerful streaming platform.” It’s unclear what changes are in store for Roku as a platform following the merger, but it’s certainly major news.
Roku just announced its first major homescreen revamp in years in May and, as of earlier this year, is thought to command around 30% of the US market.
The deal is expected to close in the first half of 2027.
More on Roku:
- Roku rolling out home screen redesign with AI-powered app organization, ‘Top Picks’ [Video]
- Roku’s next update adds AI voice support to answer all of your trivia-related questions
- Philips ‘Ambilight’ TVs finally come to US with built-in lightstrip, but without Google TV [Gallery]
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