Fox Corporation has announced a major acquisition deal to purchase the streaming platform Roku in a cash-and-stock transaction.Under the agreement, Fox will pay US$160 (approximately US$227) per share for Roku, with the deal valuing the company at an enterprise value of around US$22 billion.

Although the headline figure reported is US$31 billion, the detailed valuation provided in the article refers to a lower enterprise value once financial structures are taken into account.The transaction is expected to close in the first half of 2027, pending regulatory approvals and customary closing conditions.

The acquisition will bring together Fox’s established portfolio of sports, news and entertainment content with Roku’s widely used streaming platform, which has more than 100 million subscribers globally.This combination is positioned as a strategic move by Fox to strengthen its presence in the rapidly evolving streaming and digital media landscape.

Roku, known for its hardware devices and operating system that powers smart TVs and streaming services, will provide Fox with a significant distribution channel for digital content.In turn, Fox is expected to expand Roku’s content offerings, particularly in live sports and news, which are key strengths of the broadcaster.The deal follows reports from Bloomberg indicating that Roku had been in discussions regarding a potential sale.

Market observers view the acquisition as part of a broader consolidation trend in the media and streaming industry, where traditional broadcasters are seeking scale and direct-to-consumer reach to compete with global streaming giants.If completed, the merger would mark one of the largest media and technology deals in recent years.