US media giant Fox Corp has closed the acquisition of free, ad-supported streaming television (FAST) service Roku, through a deal valued at $22 billion.
Fox agreed the deal back in June, and has now closed the acquisition ahead of the expected 2027 date.
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The deal involves Fox acquiring Roku – which runs across the Americas, Europe, and Australia – for $95.30 in cah and 0.9799 shares of class A common stock for each share of class A and B Roku stock that they own.
Fox shareholders will own 74% of the combined company, with Roku shareholders owning the remaining 26%.
In a statement, Fox says that this transaction pushes the company into a “new transformational era,” with “$400 million of run-rate cost synergies within two years.”
Commenting on the closure of the agreement, Fox chief executive Lachlan Murdoch said: “The closing of this acquisition advances the long-term strategy of Fox. Beginning today, our top priority for the combined company is to continue to relentlessly serve audiences and partners, while reinforcing the openness and choice that is the essence of the Roku platform.
“Our shared entrepreneurial passion and clear conviction toward building the future together with our new Roku colleagues gives us great confidence in the opportunities ahead of us.”
Anthony Wood, Roku’s co-founder, will join Fox’s board, and will be co-chair of the new business unit, Fox Digital Platforms, which will house Roku, Tubi, and the Fox One OTT streaming services.
On the merger, Wood added: “We started Roku more than two decades ago to give people a better way to watch TV, and that mission doesn’t change today. What does change is our reach and resources.
“Our teams will keep building and innovating as they always have, now with the support and capabilities of Fox behind us. I’m proud of what Roku’s employees have built, and I’m excited about what comes next.”
In terms of Roku's sports coverage, in August, the service became the newest media partner of North America's National Women's Soccer League (NWSL), striking a deal for a package of eight Sunday evening (local time) matches
The streaming service expanded its agreement with global action-sports property X Games back in March by securing exclusive rights in the US to the new X Games League property.
Meanwhile, in terms of Fox's existing sports rights portfolio, the US heavyweight currently holds the rights to the likes of American football's NFL, baseball's MLB, stock car racing's NASCAR, as well as college sports' Big Ten. It is also broadcasting men's soccer's 2026 FIFA World Cup, which is being co-hosted by the US, right now.
