Fox Completes $22 Billion Roku Acquisition

Fox has officially completed its $22 billion acquisition of Roku, a deal announced in June. The transaction was cleared by the Trump Justice Department after a review, and its five-month turnaround is described as unusually short for a merger of this size. Roku founder Anthony Wood will join Fox's board and co-lead a new Fox Digital Platforms division overseeing Roku, Tubi, Fox One and other digital brands.

Deal details

Roku reaches over 100 million households globally and serves as a gateway to streaming platforms including Netflix, YouTube TV and Disney+. It also sells ads and subscription bundles, and owns the streaming service Tubi. Fox sold its Roku shares in 2020 to help fund its Tubi acquisition, making the new ownership a reversal of that earlier move.

Viewership context

The closure follows reports that Fox News' viewership dropped 27 percent year over year in October. CNN's viewership grew by 3 percent over the same period, while MS NOW, formerly MSNBC, rose by 16 percent. Even so, Fox News' viewership remained higher than CNN and MS NOW's combined.

Platform questions

What the deal means for Roku owners is not yet clear. Fox says Roku will remain an "open platform" for every content partner. Concerns focus less on removed services and more on what gets promoted on the home screen, given the company's inclination toward right-wing politics.

Sources: Engadget