Roku

Roku is the leading connected-television operating system in the United States, present in more than 100 million streaming households globally. On 15 June 2026 Fox Corporation agreed to acquire Roku for approximately $22 billion in enterprise value at $160 per share ($96 cash plus 0.9693 FOX Class A shares). The acquisition, pending regulatory clearance, gives FOX device-level behavioural data sitting below individual streaming apps, a layer of audience signal that FOX's own Tubi app-level data cannot provide.

Founded in 2002 and taken public in 2017, Roku built its position by staying platform-agnostic: the Roku OS runs on both Roku-branded hardware and third-party smart-television sets from TCL, Hisense, and others. Its principal revenue streams are advertising (The Roku Channel and the broader OneView ad platform) and player sales. The Roku Channel is Roku's own free, ad-supported streaming service, which becomes part of the FOX portfolio if the deal closes, sitting alongside Tubi as a second FAST property.

The DOJ cleared the Paramount-Warner Bros. Discovery merger on 12 June 2026, signalling a permissive antitrust posture toward media consolidation; analysts see that as improving the prospects of FOX-Roku clearance. The combination would make FOX the only US broadcaster to own both a streaming service (Fox One), a FAST channel (Tubi), a second FAST channel (The Roku Channel), and the underlying operating system through which all of them are distributed.

That permissive read was tested rather than confirmed: on 13 July 2026, twelve US state attorneys general sued to block the separate Paramount Skydance / Warner Bros. Discovery merger and sought a temporary restraining order , while the FCC let its own 1 July "may not close" Deadline on that deal lapse without acting . Neither development names FOX-Roku directly, but both narrow the assumption that federal antitrust clearance in June settles the wider consolidation climate the FOX-Roku deal depends on.