Fox Agrees to Buy Roku for About $22 Billion

Overview

• Fox announced a binding agreement to acquire Roku for $160 a share in a cash-and-stock deal that values the company at about $22 billion.
• The companies secured a $12 billion fully committed bridge loan from Morgan Stanley to support the transaction.
• After closing, current Fox shareholders are expected to own about 73% of the combined company while Roku shareholders will own about 27%.
• Fox projects roughly $400 million in annual cost savings from integration and said Roku will remain an open platform with CEO Anthony Wood staying involved on the combined board.
• The move pairs Fox’s live programming with Roku’s ad-driven platform that reaches more than 100 million households and must win regulatory approval before a planned close in the first half of 2027.