Roku shares fall as Fox strikes $22 billion deal to acquire streaming platform

Fox Corp announced a deal to acquire streaming platform Roku in a transaction valued at approximately $22 billion, combining Fox's sports, news, and entertainment assets (including Tubi) with Roku's 100 million-subscriber platform. Fox will pay $96 cash plus 0.9693 Class A shares per Roku share, funding $12 billion via new debt; the deal is expected to close in H1 2027. Roku shares fell 2.5% to $139.80 on the announcement, with Fox shareholders set to own ~73% of the combined entity.