What Roku Holders Get From Fox: $95.30 in Cash Plus 0.9799 Shares Each
Fox Corp. closed its roughly $22 billion acquisition of Roku on 6 November 2026, with Roku holders receiving $95.30 in cash and 0.9799 Fox shares each.
Fox Corporation completed its acquisition of Roku, Inc. on Friday, 6 November 2026, ending a deal announced on 15 June 2026. Fox said in its completion release that Roku shares would cease trading on Nasdaq as of that day. Reuters, as carried by The Star, valued the transaction at $22 billion.
Under the terms Fox published at closing, each Roku Class A and Class B share converted into $95.30 in cash and 0.9799 shares of FOX Class A common stock. The per-share terms are the same for both classes. FOX 13 News reported in June that the deal was expected to close in the first half of 2027, so it closed earlier than that.
Cash and Stock Terms for Roku Holders
The consideration combined cash and stock. Each Roku share received $95.30 in cash and 0.9799 shares of FOX Class A common stock.
Fox’s release gives the ownership split for the combined company. FOX stockholders own about 74% of the common stock, and former Roku stockholders own about 26%.
Leadership and a New Digital Division
Roku founder Anthony Wood will join the FOX board of directors. He will also serve as Co-Chair of FOX Digital Platforms, a new division, alongside Paul Cheesbrough, who is Co-Chair and CEO of that division. According to the release, the division includes Roku, Tubi, FOX One, Red Seat Ventures and other digital products and services.
Lachlan K. Murdoch, Executive Chair and Chief Executive Officer of Fox Corporation, said the closing advances the long-term strategy of FOX. He said the company’s top priority for the combined company is to continue to “relentlessly serve audiences and partners.”
Wood said Roku was started more than two decades ago to give people a better way to watch TV, and that its mission stays the same at closing.
Why Fox Wanted Roku’s Platform
Reuters reports that the deal gives Fox access to more than 100 million households using Roku’s platform. Reuters describes the deal as a bet that the streaming platform will bolster Fox’s advertising business and expand the online reach of its sports and news programming. Reuters also says the deal could help Fox better target its advertising.
Reuters describes Fox as a cable-reliant media company that may use the deal to build a larger digital audience. FOX 13 News, citing Fox, described the combination as joining one of the nation’s largest producers of live news, sports and entertainment programming with a streaming platform. It said Fox says the merger makes the company the third-largest U.S. TV company by share of viewing, and gave Roku’s reach as more than 100 million households around the world.
FOX 13 News reported that Murdoch said the deal extends a strategy Fox has pursued for nearly a decade, starting in 2019 when the company refocused on live news and sports. He cited the 2020 acquisition of Tubi, which he said has become one of the most successful streaming businesses. He also described Roku as a company that pioneered streaming television.
“Roku founder Anthony Wood will join the FOX board of directors.”
Approval Terms, Timing and What Comes Next
When the deal was announced on 15 June 2026, FOX 13 News reported that it was expected to close in the first half of 2027, subject to shareholder and regular approvals. The same report said Roku founder and CEO Anthony Wood and affiliated entities hold a majority of Roku’s voting power and had agreed to support the deal. The closing came earlier than that window.
At the June announcement, Murdoch called the deal a “defining moment for FOX,” according to FOX 13 News. He said the deal adds high-growth businesses to Fox and that the company will keep its investment-grade balance sheet while continuing share buybacks and dividends.
The deal closed on 6 November 2026. Fox has said it will keep running Roku as an open platform for partners.
