Fox Buys Back Roku for $22 Billion, Reversing a $210 Million Loss from 2020

Fox agreed to acquire Roku for $22 billion on June 15, 2026—a sharp reversal from March 2020, when it sold its 5% stake for $340 million and booked a $210 million loss. That pandemic-era exit prioritized cash. Now Fox is betting that owning Roku's operating system, which runs on tens of millions of connected TVs, gives it durable control over streaming distribution and ad inventory as traditional television shrinks.