Fox Is Officially Buying Major Streaming Service For $22 Billion

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Another major streaming service is being folded under Fox‘s bigger umbrella.

The entertainment industry has changed dramatically recently. Actors and writers fought for fair pay and better jobs during the 2023 Hollywood strikes, and now they’re also facing challenges from artificial intelligence. At the same time, larger companies are gaining more control through mergers and acquisitions.

As a movie critic, I’ve been keeping a close eye on the industry shakeups, and lately, all anyone could talk about was the potential merger between Paramount and Warner Bros. Discovery. It’s been a bit of a rollercoaster – we heard Netflix might be involved, then they stepped back. Eventually, in February, the companies finally reached a deal worth a staggering $110 billion. But while that deal was playing out in public, it turns out Fox was quietly working on a big acquisition of its own, something that flew under the radar for a while.

Fox is buying Roku for $22 billion. The agreement will give Fox ownership of Roku at a price of $160 per share, paid for with both cash and Fox stock. This deal will combine Fox’s content – including sports, news, and entertainment – and its Tubi streaming service with The Roku Channel, reaching over 100 million streaming households worldwide.

Fox has officially stated they don’t intend to change how Roku works as an open platform or how widely available Fox content is. Making this clear alongside the announcement of the acquisition helps reassure users that their experience won’t drastically change. However, Fox’s plans could evolve over time, so this may not be the case indefinitely.

Fox believes its purchase of Roku will make it the third-leading TV provider in the U.S., based on viewership. The company is excited about the wider range of content it now offers and expects this deal to strengthen its distribution across broadcast, cable, local channels, and streaming services. Fox says these improvements will benefit viewers, partners, and advertisers alike.

Roku was started in 2002 by Anthony Wood, who previously created a competitor to TiVo called ReplayTV. However, Roku didn’t release its first streaming device until 2008. By 2010, they had a range of devices available, which became their main business. In 2021, Roku was the top streaming platform in the United States, and estimates suggest it will reach around 145 million people by 2025.

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2026-06-15 17:58