Fox Corporation has entered into a definitive agreement to acquire Roku, Inc. in a cash-and-stock deal valued at approximately $22 billion. The acquisition combines FOX's premium live news and sports content with Roku's leading connected TV (CTV) platform, which reaches over 100 million global households, to create a scaled media and technology company.
Key Details
- Transaction Value: Roku shareholders will receive $160.00 per share, consisting of $96.00 in cash and 0.9693 shares of FOX Class A common stock, implying a $22 billion enterprise value.
- Pro Forma Ownership: Upon closing, existing FOX shareholders are expected to own approximately 73% of the combined company, with Roku shareholders owning about 27%.
- Financial Impact: The deal is expected to achieve approximately $400 million in run-rate cost synergies and be accretive to free cash flow per share by the second full year after closing.
- Timeline & Leadership: The transaction is expected to close in the first half of 2027, subject to regulatory and shareholder approvals. Roku CEO Anthony Wood will join the FOX Board of Directors upon completion.