The Fox News electronic ticker reads News Corp. headlines. Building in Midtown Manhattan in New York, United States on July 20, 2025.
Eduardo Munoz | Reuters
Fox Corp. entered into an agreement to acquire Roku for approximately $22 billion, marking a new chapter in media consolidation as the industry grapples with several changes and challenges.
On Monday, Fox announced the acquisition of Roku for $160 per share. Fox’s stock was trading down about 13% in premarket trading, while Roku’s was up about 2%.
The combination will bring together Fox’s news and sports channels, as well as its free, ad-supported streamer Tubi, with Roku, the maker of streaming devices and also the home of The Roku Channel, a service similar to Tubi.
The proposed acquisition comes about seven years after Fox’s last major deal, when the company divested its entertainment assets in a $71 billion deal with Disney. Since then, Fox’s portfolio has mainly consisted of its television channels, namely the Fox broadcast network, which has been showing the FIFA World Cup since last week, and Fox News Channel on cable.
In 2020, Fox acquired Tubi for $440 million. The service had long been its answer to the streaming wars, before the announcement of Fox One, its direct-to-consumer option that launched last year.