Fox Closes $22 Billion Roku Deal, Two Years Earlier Than Expected

Fox Corp. has finished buying Roku, the streaming company behind the TV sticks and smart-TV menus many households use every day. Variety reported the deal, valued at $22 billion, on 6 November 2026. The closing came well ahead of the 2027 date both companies had expected.

The deal was first announced in June. Fox agreed to pay $160 per share for Roku, made up of about $14.2 billion in cash and the rest in Fox Class A common stock, meaning the shares Fox sells to the public. Roku says it has more than 100 million households as customers.

Roku's founder, Anthony Wood, is not leaving the picture. He will join the Fox board of directors. He will also share the top job at a newly formed unit called Fox Digital Platforms, where he serves as co-chair.

Fox Digital Platforms brings together Roku, Fox's free streaming service Tubi, the Fox One subscription service, Red Seat Ventures and other digital products. Paul Cheesbrough takes on the role of co-chair and chief executive of the division alongside Wood. Cheesbrough is a co-chair and chief executive, so the two men split the leadership in that role.

Fox has also made a promise about Roku's character. The company says it will keep Roku as an open platform for the wider streaming industry. In practice, that means Roku's devices and menus are meant to keep carrying apps from other companies, not only Fox's own.

The money side is also part of the pitch. Fox expects about $400 million a year in cost savings, known as annualised cost synergies, within two years of the deal closing. Synergies are savings that come from combining two businesses, such as shared offices, technology and staff. Fox also expects the deal to add to free cash flow per share, meaning the cash left over for each share, by the second full year after closing.

For people who use Roku, not much changes on the day a deal closes. The devices, apps and channel guides stay where they are. What changes is who owns the company and how its services are arranged inside Fox. Those decisions tend to show up over months, not overnight.

Wood's name is also well known in the industry. He launched Roku in 2002. According to the company's investor pages, founding Roku was his sixth startup.

The deal is one of the largest moves in the streaming business this year. Fox now has a home for its own shows and films on Tubi and Fox One, and a direct route into the living rooms of Roku's customers. For the crews, writers and production staff who make Fox's programmes, the next thing to watch is whether these savings lead to changes in how many shows are commissioned, meaning ordered for production.