Fox Completes Roku Acquisition After US Justice Department Closes Probe

Fox has completed its acquisition of Roku, after the US Justice Department closed its antitrust investigation into the deal. Fox announced the completion on Friday, 6 November 2026. The Justice Department said it found the merger is not likely to harm competition.

Antitrust investigations check whether a merger could weaken competition, which can mean fewer choices or higher prices for consumers. Roku makes the devices and home screen that many households use to find shows across different apps. Its menu also carries free, ad-supported streaming services, known as FAST channels, which earn money from advertising rather than subscriptions.

The Justice Department said it looked at whether the deal could hurt competition among those free services, and whether Fox could use control of Roku to disadvantage rival content. It concluded that new free, ad-supported services could enter the market in a timely and sufficient way, making substantial harm unlikely. The department also said it will keep watching the industry and may act if circumstances change.

To close the review, Fox made a set of commitments to the department, as Variety reported. Roku will remain an open and neutral content partner. Non-Fox content will stay on the platform for at least three years, in line with Roku's past practice. Search results will not discriminate against non-Fox content. Users will keep the ability to rearrange apps on the home screen.

Fox also committed to keep offering data products to third parties on commercially reasonable terms. Competitively sensitive data about non-Fox content, including clicks, searches, viewing and voice requests, will stay firewalled from Fox for at least three years.

The deal has been in progress since June. Fox and Roku announced the agreement on 15 June, and Reuters valued the cash-and-stock transaction at about $22 billion. A joint proxy statement filed in September set the cash payment at $96.00 per Roku share, without interest.

The review was not quick. In September, the Justice Department issued second requests, which are formal demands for more documents, to both companies. Reuters, citing Semafor, reported the same month that the department had widened its inquiry. On Fox's fiscal first-quarter earnings call on 2 November, the company said it was working with the department and expected to close the deal as soon as it could.

For viewers, the commitments set out what must stay true on the Roku screen for at least three years, including where non-Fox channels and shows appear. For the companies that make and sell shows, Roku's home screen is one of the places audiences find new series, so the terms on that screen matter to them too.