Fox Corporation has completed its $22 billion acquisition of streaming platform Roku, the company confirmed, finalizing a deal that reshapes the competitive landscape of the streaming industry. The transaction closed months after investigators at the U.S. Department of Justice examined the proposed merger, though no formal challenge to the deal was ultimately brought. The combined entity joins Fox's broadcast and cable assets with Roku's streaming hardware and advertising-supported platform, which reaches tens of millions of households. Financial terms disclosed by both companies match the $22 billion valuation announced when the agreement was first revealed.
The acquisition marks one of the largest media-technology combinations in recent years and signals Fox's push to secure a direct relationship with streaming audiences as traditional television distribution declines. Roku's platform business, which generates revenue through advertising and content distribution agreements, is expected to complement Fox's existing ad-supported streaming ventures. Analysts have noted that the deal could raise questions about competition in the connected-TV advertising market, where Roku is a significant player. Fox executives have said the integration of Roku's technology and user base will accelerate the company's digital strategy. Neither company has announced immediate changes to Roku's consumer offerings or leadership structure following the closing.
Independent reporting synthesized from primary wires and global correspondents.