Fox will acquire the streaming platform Roku for $22 billion.

Fox will acquire streaming video platform Roku through a cash and stock deal at a price of $160 per share, valuing the enterprise of Roku at approximately $22 billion. The two companies stated in a declaration on Monday that the transaction is expected to be completed in the first half of 2027, combining Fox's sports, news, and entertainment content resources with Roku's platform, which has over 100 million subscription users. According to the statement, Fox has obtained $12 billion in bridge financing from Morgan Stanley's senior financing department to support this acquisition. Roku's streaming devices allow consumers to watch content from apps such as Netflix and HBO Max on their televisions, turning any TV into a smart TV. Most of Roku's revenue comes from digital advertising sales and streaming service distribution business, with hardware device sales accounting for only a small portion of the revenue. Last year, its platform business generated $4.1 billion in revenue, accounting for 87.5% of the company's total revenue.