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Entertainment

Fox Closes $22 Billion Purchase of Roku Months Ahead of Schedule

Fox completed its $22 billion purchase of Roku on Friday, less than six months after the deal was announced, folding the streaming platform into a new digital division alongside Tubi and Fox One.

By admin Nov. 6, 2026 · 3:44 PM ET 2 min read

A modern living room at dusk with a large wall-mounted television showing a grid of colorful abstract tiles, a sofa and a coffee table in front.

Fox Corporation completed its $22 billion acquisition of Roku on Friday, less than six months after the deal was announced in June. The companies had expected the purchase to close in the first half of 2027.

A small black streaming device and a remote control on a wooden coffee table next to a bowl of popcorn.
A small black streaming device and a remote control on a wooden coffee table next to a bowl of popcorn.

Under the terms, Roku shareholders receive $95.30 in cash and 0.9799 shares of Fox Class A common stock for each Roku share they held. Existing Fox shareholders now own about 74 percent of the combined company, and former Roku shareholders hold about 26 percent. Roku shares stop trading on the Nasdaq as of Friday.

The deal cleared the Justice Department after the department issued a second request for information during its antitrust review, and shareholders of both companies approved it in October, TheWrap reported.

Roku’s platform reaches more than 100 million households. Fox said the purchase gives it more advertising inventory and distribution alongside its broadcast networks and streaming services. Fox already owns Tubi, which has 110 million monthly active users. Together, Tubi and Roku drew 4.8 percent of streaming viewership in August, according to Nielsen figures cited by TheWrap. That tied Disney’s streaming share and put the pair behind Netflix and YouTube. Counting linear television, the combined company drew 8.5 percent of total TV viewing that month. That put it fourth among media distributors, behind YouTube, Skydance and Disney.

A modern glass office building in a California business park at sunset, with hills behind it.
A modern glass office building in a California business park at sunset, with hills behind it.

A new digital division

Roku now sits inside Fox Digital Platforms, a new division that also includes Tubi, the Fox One subscription service and podcast company Red Seat Ventures. Fox expects about $400 million in cost savings within two years of the close, and Fox said the deal will add to free cash flow per share by the second full year after closing.

Roku founder Anthony Wood joins the Fox board of directors and becomes co-chair of Fox Digital Platforms alongside Paul Cheesbrough, who is co-chair and chief executive of the division. Mustafa Ozgen stays on as chief executive of Roku, while Pete Distad oversees Fox’s direct-to-consumer businesses, including Tubi, Fox One and Frndly TV.

A family seen from behind sitting on a sofa in a dark living room watching a large television showing a mountain lake scene.
A family seen from behind sitting on a sofa in a dark living room watching a large television showing a mountain lake scene.

The deal also brings changes in management. Mike Bidgoli was promoted to president of Tubi, replacing Anjali Sud, who is leaving for a job outside Fox. Charlie Collier, Roku’s president of media, is also leaving.

“The closing of this acquisition advances the long-term strategy of FOX,” Fox chief executive Lachlan Murdoch said in a statement. “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.” Wood said in a statement that Roku’s mission does not change, and that Fox shares its commitment to staying open to every content partner.

Reporting based on coverage by The Desk and TheWrap.

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