Fox closes its $22 billion Roku takeover and pledges to keep the platform open

Fox Corp said on Friday it has completed its acquisition of Roku, closing a deal first announced in June 2026 at about $22 billion. Fox Business and the New York Post both reported the closing. (Fox Corp is the parent company of Fox Business.)

The terms at closing

According to the New York Post, each Roku Class A and Class B share converted into $95.30 in cash and 0.9799 shares of Fox Class A common stock. Fox stockholders now own about 74% of Fox, and former Roku holders about 26%. Roku shares ceased trading on the Nasdaq on Friday.

Those figures differ slightly from the headline terms reported in June, which were widely quoted as $96 in cash and 0.9693 Fox shares, with a roughly 73/27 split. We have not seen a filing explaining the adjustment, and the SEC filings page for Fox had no closing 8-K at the time of writing. Treat the closing numbers above as the New York Post's report of Fox's statement until the filing appears on SEC EDGAR.

What Fox says it gets

Fox Business reports that the company pairs its live sports, news and local programming with Roku's connected-TV platform, which reaches more than 100 million households, alongside its existing Tubi and Fox One streaming services. Fox expects about $400 million of run-rate cost synergies within two years of closing, and says the deal will add to free cash flow per share by the second full year after closing.

Roku founder Anthony Wood joins the Fox board and becomes co-chair of Fox Digital Platforms, a new division covering Roku, Tubi, Fox One, Red Seat Ventures and other digital businesses. Paul Cheesbrough moves into the co-chair and CEO role there.

The "open" pledge, in the executives' words

The headline promise is that Roku stays neutral. CEO Lachlan Murdoch said Fox's top priority is "reinforcing the openness and choice that is the essence of the Roku platform." Wood said Fox "wholly shares our commitment to staying open to every content partner."

That matters because Roku's platform carries rivals' apps. Whether the pledge holds is a question for advertisers and streamers over the coming quarters, and the statements so far are commitments, not rules. Nothing in the reports we read describes a binding mechanism.

Who feels this

Advertisers: a broadcaster that now owns the screen's home page and a large share of the ad inventory around it will sell both together. Small and mid-size advertisers buying connected-TV spots should watch whether pricing or packaging changes after integration, and Fox has not published any such changes.

Competing streamers and app makers: their distribution runs through a platform owned by a rival, which is why the openness language is the part to track.

Fox shareholders: they now carry the debt and share issuance that financed the deal, and the $400 million savings target is a promise to measure against future results.

On our own chart, Fox Class A last traded at $67.55 as of November 6, about 11.2% below its January 6, 2026 peak in the one-year window.

Sources: Fox Business; New York Post; June 2026 announcement terms from search coverage including The Hollywood Reporter; chart data via Yahoo Finance. This is market information, not investment advice.