Fox, Roku shareholders approve $22 billion streaming deal

Fox Corp. secured shareholder approval on Wednesday for its $22 billion acquisition of streaming platform Roku, marking a significant step in expanding the media company's digital advertising capabilities and streaming market presence. Shareholders of both Fox and Roku voted in favor of the deal during separate special meetings on Wednesday, with final vote tallies expected in regulatory filings.

The acquisition, announced in June, involves Fox paying $160 per Roku share, a total of $14.2 billion in cash, with the balance in Fox Class A common stock. The deal, expected to close in the first half of 2027, requires approval from the U.S. Department of Justice and other regulators. The merger would bolster Fox's position in digital video advertising and streaming distribution, combining Roku's platform with Fox's Tubi, a free, ad-supported streaming service.

Additionally, it would enhance Fox's reach in the advertising-supported streaming market and bolster its premium subscription video distribution. Fox plans to maintain Roku's open platform policy, allowing it to work with various partners. Roku CEO Anthony Wood will retain a stake in the combined entity. The shareholder approvals advance Fox's strategy to strengthen its position in the competitive streaming industry, where competition for advertising revenue and audience growth has intensified as viewers migrate away from traditional television.