Overview
- The companies announced the agreement on Monday, June 15, under which Fox will pay $160 per Roku share in a mix of $96 cash and 0.9693 Fox Class A shares valuing the deal at about $22 billion.
- Fox secured $12 billion of committed bridge financing from Morgan Stanley and said it will fund the cash portion with that debt plus cash on hand while aiming for roughly $400 million in annual cost savings.
- Upon closing, Fox shareholders are expected to own about 73% of the combined company and Roku shareholders about 27%, with Roku founder and CEO Anthony Wood keeping an ongoing role and joining the Fox board.
- Both boards unanimously approved the deal but it still needs votes by both sets of shareholders and U.S. and foreign regulatory approvals before the expected close in the first half of 2027.
- Markets reacted negatively to the announcement with Fox shares falling sharply, and both companies stressed Roku will remain an open, partner‑friendly connected‑TV platform to reassure app partners and advertisers.