The electronic news ticker of Fox News reads headlines at the News Corp. Building in the Midtown Manhattan area of New York City, U.S., July 20, 2025.
Eduardo Munoz | Reuters
Fox Corp. has reached an agreement to acquire Roku for roughly $22 billion, marking another chapter in media consolidation as the industry grapples with several changes and challenges.
On Monday Fox announced it would acquire Roku for $160 per share. Fox’s stock was trading down about 13% in premarket trading, while Roku 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 it shed its entertainment assets in a $71 billion deal with Disney. Since then, Fox’s portfolio has primarily been made up of its TV channels, namely broadcast network Fox, which has been airing the FIFA World Cup since last week, and Fox News Channel on cable.
In 2020 Fox acquired Tubi for $440 million. That service had long been its answer to the streaming wars, prior to the announcement of Fox One, its direct-to-consumer option that launched last year.
