On June 15, US media giant Fox Corporation announced an agreement for the acquisition of Roku, a leader in streaming devices and operating systems. According to information included in the press release, Fox is to pay USD 160 per share. Therefore, the total amount of the deal will be around USD 22 billion. The transaction is expected to close during the first semester of 2027 and it is estimated that by the end of the process current Fox shareholders will hold nearly 73% of the company while Roku stockholders will own the remaining 27%.
The reason why the agreement is of key importance for the market is that it will join a content production giant (Fox) with one of the main connected TV ecosystems (Roku), used by over 100 million households around the world. According to the press release, “Fox and Roku are committed to continuinig to operate Roku as an open, partner-friendly platform.”
Lachlan K. Murdoch, Executive Chair and Chief Executive Officer of Fox Corporation, said: “This is a defining moment for Fox, and a natural extension of the deliberate and focused strategy we have been executing for nearly a decade. In 2019, we reoriented the company around live news and sports. In 2020, we acquired Tubi, and under our stewardship it has become one of the most successful businesses in streaming. Today, we take the next step: bringing together the most valuable live content portfolio in video consumption with the preeminent streaming platform through which America watches it. This combination will transform the scope of our company into high-growth verticals and yield a step change in our overall growth profile.”
At the same time, Anthony Wood, Founder, Chairman and Chief Executive Officer of Roku, noted: “This is an extraordinary opportunity to accelerate our vision, scale faster, and innovate more aggressively for viewers, partners, and advertisers.”
The transaction, which has been unanimously approved by the Boards of Directors of Fox and Roku, is subject to approval by both companies’ stockholders and by regulatory entities.
