Fox Corporation has agreed to acquire Roku for $160 per share, with $96 in cash and the remainder paid through Fox stock. The deal values Roku at approximately $22 billion and includes $12 billion in bridge financing from Morgan Stanley. Regulatory approval remains pending, with closure targeted for early next year.

The acquisition merges Fox's live news and sports content with Roku's platform technology serving over 100 million streaming households globally. Roku already reaches more than half of US broadband homes, making it a dominant connected TV player.

This positions Fox across the entire video ecosystem while giving the media company direct access to streaming audiences. The combined entity will become the third-largest player in US television by viewing share, integrating premium content with advanced UI technology.

Fox plans to maintain Roku as an open, partner-friendly platform rather than folding it into existing operations. This preserves Roku's third-party app relationships while combining Fox's advertising capabilities with Roku's viewer data to improve content discovery and engagement.