Fox Corporation

Fox Corporation (NYSE: FOXA) agreed to acquire Roku for approximately $22 billion in enterprise value on 15 June 2026, at $160 per share ($96 cash plus 0.9693 FOX Class A shares). The deal gives FOX device-level behavioural data from more than 100 million streaming households, closing the gap between the AI products FOX is building and the first-party audience signal those products require. Fox One, its direct-to-consumer streaming service, launched on 11 June 2026 with generative-AI match summaries and personalised dashboards for all 104 FIFA World Cup fixtures in 4K. At Cannes Lions on 18 June 2026, Fox Corporation joined the Agentic Standards Initiative as one of six founding rights-holder partners in WPP's MCP-governed Buyer Agent, routing $8.5bn in annual media spend, and on the same day was named a partner in Horizon Media's HorizonOS Blu agentic orchestration layer, also running on the Model Context Protocol.

Fox Corporation holds FOX News, FOX Sports, Fox One, Tubi (a free ad-supported streaming service with 80 million monthly active users), and FOX Entertainment's technology studio FoxNXT. It is distinct from the FOX Entertainment studio sold to Disney in 2019. Lachlan Murdoch serves as co-chair and chief executive. The acquisition of Roku, pending regulatory clearance, would ADD The Roku Channel and Roku's operating system to FOX's portfolio, raising questions about how two FAST services with overlapping ad inventory would be managed under single ownership.

FOX's strategic thesis is data-led: Tubi provides app-level viewing signal; Roku provides the device layer below that, capturing cross-service behaviour from every app running on the operating system. Combined, the data stack would be among the richest in American television advertising. Simultaneous adoption of WPP's and Horizon Media's MCP-based buying systems on 18 June, alongside the Roku acquisition, positions FOX as the rights-holder that has moved furthest and fastest toward full-stack agentic distribution: production data (Fox One AI), FAST catalogue (Tubi), device data (Roku, pending), and agentic buying access (WPP and Horizon MCP).