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Fox confirmed Monday<\/a> that it is acquiring streaming company Roku in a stock and cash deal valued at around $22 billion, one of the largest media acquisitions in years and a clear sign of where the TV industry is placing its bets. Fox said the deal reflects two forces reshaping how people watch video: the enduring pull of live sports and news, and the relentless growth of streaming.<\/p>\n Fox says the combined company will become the third-largest television business in the United States by viewership. The deal merges Fox\u2019s news and sports channels and its free ad-supported streaming service Tubi, with Roku\u2019s connected TV platform \u2014 the software that powers many of the smart TVs and streaming devices people already have in their living rooms.<\/p>\n Together, Fox says, the combined company will have reach across both traditional TV and streaming \u2014 a combination increasingly seen as essential as audiences split their time between live broadcasts and on-demand platforms.<\/p>\n The deal gives Fox direct access to Roku\u2019s audience of 100 million households, which Fox says will help the company target ads more effectively and rely less on traditional delivery. Fox also says the acquisition gives it a stronger foothold in connected TV \u2014 the fast-growing market for streaming ads and subscriptions, often referred to in the industry as \u201cCTV.\u201d<\/p>\n Fox CEO Lachlan Murdoch called the acquisition a \u201cdefining\u201d moment for the company. <\/p>\n \u201cThis combination will transform the scope of our company into high-growth verticals and yield a step change in our overall growth profile,\u201d Lachlan said in a press release. \u201cRoku pioneered streaming TV and scaled it into a leading CTV platform. Together, we intend to lead its next chapter.\u201d<\/p>\n The move continues a wave of consolidation in media as traditional broadcasters race to build scale in streaming. Fox acquired Tubi for $440 million<\/a> in 2020 at the height of competition across the live streaming industry. Last year, the company launched Fox One, its direct-to-consumer streaming service.<\/p>\n \u201cI\u2019m incredibly proud of what our team has built, and the combination with Fox is an extraordinary opportunity to accelerate our vision, scale faster, and innovate more aggressively for viewers, partners, and advertisers,\u201d said Roku founder and CEO Anthony Wood. \u201cI couldn\u2019t be more excited about what we\u2019ll accomplish together.\u201d<\/p>\n The deal has been approved by the boards of directors of both companies and is expected to close in the first half of 2027. Fox says it obtained a $12 billion loan for the acquisition. <\/p>\n<\/div>\n When you purchase through links in our articles, we may earn a small commission<\/a>. This doesn\u2019t affect our editorial independence.<\/em><\/p>\n