Fox Closes $22 Billion Roku Acquisition Ahead of Schedule

Fox has completed its roughly $22 billion acquisition of Roku ahead of the originally expected 2027 timeline, combining Fox’s sports, news and local programming with Roku’s connected-TV platform, which reaches more than 100 million households. Roku shareholders received $95.30 in cash and 0.9799 Fox Class A shares per share, leaving former Roku shareholders with about 26% of Fox’s outstanding stock; Roku shares have stopped trading on Nasdaq. Roku founder Anthony Wood joins Fox’s board and will co-chair Fox Digital Platforms, a new division that includes Roku, Tubi, Fox One and other digital businesses, with Paul Cheesbrough as co-chair and CEO. Fox says it will preserve Roku as an open platform and expects about $400 million in annual cost synergies within two years, with the deal expected to boost free cash flow per share by the second full year after closing.