In a blockbuster media transaction, Fox announced Monday that it will acquire Roku for roughly $22 billion. The deal folds Roku's device ecosystem, The Roku Channel and its advertising data into Fox's streaming strategy, increasing the media conglomerate's ability to target ads and broaden distribution of Fox-owned programming across more than 100 million households. 

Fox said Roku will continue to operate as a standalone platform.

Fox CEO Lachlan Murdoch said this deal combines "the most valuable live content portfolio in video consumption with the preeminent streaming platform through which America watches it." 

What this deal means for streaming 

For Fox, the purchase deepens its foothold in the ad-supported streaming market and complements existing assets, such as Tubi and Fox One, giving the company both content and direct access to viewer behavior. The move also intensifies competition among media owners who are racing to consolidate audiences, advertising inventory and data as streaming viewership and ad dollars shift away from traditional, linear TV.

Potential regulatory questions loom as the acquisition pairs a major content owner with a popular TV platform-maker that hosts rivals' apps. That overlap could raise scrutiny to ensure Roku remains neutral toward competing streaming services. 

Still, if regulators approve the deal, the combined company would reshape the streaming marketplace by bringing together premium content, live sports and local news with one of the largest TV distribution and ad platforms.

Fox expects the deal to close in the first half of 2027.