Fox has agreed to buy Roku for $22 billion. The deal was announced on June 15, 2026, at $160 per share, partly in cash and partly in Fox's own stock, according to Roku's official newsroom and AP News.

Roku makes the operating system—the software that runs your TV. Think of it like Windows on a computer. It sits between you and the apps (Netflix, Disney+, YouTube), showing you what to watch next. Until now, Roku tried to stay neutral. It did not favor one app over another. Fox, which also owns Tubi (a free, ad-supported streaming service), now owns Roku outright. That changes everything. Fox can now promote its own shows and ads on Roku's home screen and make deals on terms that favor itself.

What Fox Gets

The big prize is audience. Fox gains access to over 100 million people who use Roku devices, per Journal Record. Roku reported 65.4 million active accounts in 2022; the number is much higher now. People are also watching more. Hours streamed on Roku went from 73.2 billion in 2021 to 87.4 billion in 2022 to 106.0 billion in 2023, according to Roku's yearly reports.

Fox also gets data. Roku knows what you are watching and when. That information is gold for advertisers and for Fox's own services. Fox already has sports and news that people want to watch. Now it controls the screen where you find them. It can put its own content front and center, negotiate with Netflix and Disney+ from a position of strength, and make money from every ad that plays—even on rival services. This competes with Amazon's Fire TV and Google's Android TV, which are controlled by those companies.

Why This Matters

Fox paid $160 per share using cash and its own stock. Paying in stock means Fox thinks its shares are worth the price. But Roku shareholders who take stock in the deal now own a piece of the combined company's risk. Big tech and media mergers often run into trouble—different companies, different ways of working.

The price itself is notable. Roku hasn't traded at $160 since 2021, when connected-TV advertising looked like a gold mine. Now, after years where those profits did not materialize, Fox is still willing to pay this much. That suggests Fox believes it can make money off Roku in ways the old company could not.

The deal faces regulatory review. The Justice Department and the Federal Communications Commission will ask whether Fox can use Roku to unfairly squeeze out Netflix, Disney+, and others. Amazon and Google face similar questions about their own streaming devices. The deal will likely have conditions attached before it closes.

One more thing: Roku was the last big streaming operating system that no single company controlled. Now Amazon has Fire TV, Google has Android TV, and Fox has Roku. Three companies decide which apps show up on your TV and on what terms. That is less choice for streaming services fighting for your attention.