FOX · 8-K · 20261106PR451888
Roku Acquisition
Fox Corp · 2026-11-06 · Importance 65 · Surprise 60 · In source text
FOX completed its acquisition of Roku on November 6, 2026, expanding its streaming and connected-TV businesses and combining FOX programming with Roku’s platform, which reaches more than 100 million households worldwide. Roku stockholders received $95.30 in cash and 0.9799 FOX Class A shares for each Roku share; FOX stockholders own approximately 74% of FOX’s outstanding shares and former Roku stockholders approximately 26%. FOX expects approximately $400 million in run-rate cost synergies within two years of closing, with additional potential revenue upside, and expects the transaction to be accretive to free cash flow per share by the second full year after closing. The acquisition also advances FOX’s digital strategy and brings Roku, Tubi, FOX One, Red Seat Ventures, and other digital products and services into the newly formed FOX Digital Platforms division.
Key facts
- Fox expects approximately $400 million of run-rate cost synergies within two years following the transaction close. source
- Fox anticipates that the Roku transaction will be accretive to free cash flow per share by the second full year after closing. source
- Roku founder Anthony Wood will join Fox's board and serve as Co-Chair of FOX Digital Platforms alongside Paul Cheesbrough, who will be Co-Chair and CEO. source
- Fox Corporation completed its acquisition of Roku on November 6, 2026. source
- Fox's transaction consideration entitles each Roku Class A and Class B common stockholder to $95.30 in cash and 0.9799 shares of Fox Class A common stock per share owned immediately before closing. source
- Roku shares will cease trading on Nasdaq as of November 6, 2026, following completion of the acquisition. source
- After the transaction, Fox stockholders own approximately 74% of Fox's outstanding common shares and former Roku stockholders own approximately 26%. source
- Morgan Stanley Senior Funding, Inc. led the debt financing for Fox's transaction. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| operating_income | positive | probable | +1.2% | Fox expects approximately $400 million of run-rate cost synergies within two years following the transaction close. |
| cash | positive | probable | — | Fox anticipates that the Roku transaction will be accretive to free cash flow per share by the second full year after closing. |