Overview
- Fox and Roku signed a definitive agreement on Monday to merge in a cash‑and‑stock deal that values Roku at about $22 billion and offers $160 per share.
- Under the terms, Roku shareholders will receive $96 in cash plus 0.9693 Fox Class A shares per Roku share and Fox owners are expected to hold roughly 73 percent of the combined company.
- Fox secured $12 billion of committed bridge financing from Morgan Stanley and projects about $400 million in annual run‑rate cost synergies, with accretion to free cash flow per share by the second full year after closing.
- Both companies say Roku will remain an open, partner‑friendly platform and that Roku founder and CEO Anthony Wood will keep an ongoing role and join the Fox board after the deal closes.
- Markets moved on the announcement with Fox shares falling sharply, and the transaction now faces shareholder votes plus U.S. and foreign regulatory reviews that will determine whether it closes in the first half of 2027.