Fox Corporation agreed Monday to buy streaming platform Roku for $22bn, paying $160 per share in cash and Fox stock. The Murdoch‑controlled group aims to fuse its sports, news and entertainment assets with Roku’s connected‑TV ecosystem, which includes devices, branded sets and a growing ad business, and strengthens its position against cable operators. The merger would rank the combined entity as the third‑largest U.S. television network by viewing share.

Fox already owns Tubi, an ad‑supported streaming service, and sees the deal as a way to scale its advertising reach across both linear and OTT channels. By keeping Roku an open platform, Fox will preserve access to apps like Netflix, Amazon Prime Video and YouTube, protecting the ecosystem that fuels user engagement and data collection and monetizing viewer insights.

Lachlan Murdoch called the transaction a ‘defining moment’ and a natural extension of a decade‑long strategy to consolidate media assets. Investors will watch how the combined firm balances content creation with platform distribution, a model that could pressure rivals such as Disney and Comcast. The deal closes a fast‑moving consolidation wave in U.S. streaming in a highly competitive market.