Fox Corp. announced Monday it will acquire Roku, the dominant streaming platform for televisions, for $22 billion. The deal, first reported by Reuters as part of Roku's strategic review, is expected to close in the first half of next year.
Fox, known for its news and sports cable operations, already owns the free streaming service Tubi. Adding Roku would make it the third- or fourth-largest provider by audience share, depending on whether the proposed Paramount-Warner Bros. Discovery merger goes through.
Roku offers apps for every major streaming service plus its own Roku Channel, which comprises over 500 free channels. Fox says it intends to preserve this openness, with Roku founder and CEO Anthony Wood taking an unspecified “ongoing role” at the combined entity.
The acquisition signals a major consolidation in the streaming market, where scale is increasingly critical. Fox's move turns it into a significantly bigger force in television, challenging rivals like Netflix and Amazon.
Some analysts question whether Fox can maintain Roku's neutral platform positioning without alienating partners that compete with Fox's own content. While Fox has pledged openness, skepticism remains about how the integration will unfold.