Fox Acquires Roku for $22 Billion, Joining Amazon and Google in Vertical Control of Streaming

Fox Corporation agreed to acquire Roku for $160 per share—$96 cash plus 0.9693 Fox Class A shares—valuing the company at $22 billion. The deal, expected to close mid-2027, gives Fox direct ownership of the largest independent U.S. CTV operating system, with 90 million active accounts. Roku will operate as a standalone platform under Fox ownership, preserving neutrality commitments that protect the company's relationships with competing streamers.