Fox Corporation closed its $22 billion acquisition of Roku on November 6, well ahead of the first-half 2027 window the two companies had given when the deal was announced in June. Roku shares stopped trading on Nasdaq at close of business the same day.
The combined entity takes shape under a newly formed Fox Digital Platforms division, which brings together Roku, Tubi, Fox One, Red Seat Ventures, and other Fox digital services. Roku founder and CEO Anthony Wood joins Fox's board of directors as co-chair of the division. Paul Cheesbrough, formerly Fox's chief technology and product officer, is co-chair and CEO.
Fox has pledged to keep Roku as an open platform. The company said it will not give Fox News or the Fox One streaming package exclusive placement on Roku, and that existing content partners will remain on the service for at least three years. With more than 100 million households running Roku devices, the platform's independence from its new owner carries real commercial weight for the broader streaming ecosystem. Wood said Roku's mission does not change and that Fox shares its commitment to staying open to every content partner.
Fox CEO Lachlan Murdoch said the acquisition "advances the long-term strategy of Fox." The company expects around $400 million in annualized cost synergies within two years. What those savings mean in terms of headcount at Roku has not been announced.
The deal reshapes the ad-supported streaming market. Fox now controls two of its dominant ad-supported platforms, the Roku Channel and Tubi, alongside a streaming hardware and software ecosystem that counts among the most widely distributed in the United States. Where that leaves Netflix, Amazon, and other services that currently distribute through Roku as a neutral platform remains the defining question for the months ahead.