Fox’s Roku Deal Puts Tubi On A Screen Fox Owns

BusinessMediaFox’s Roku Deal Puts Tubi On A Screen Fox OwnsByMaureen Kerr,Contributor.Forbes contributors publish independent expert analyses and insights. Maureen Kerr covers AI, media and entertainment economics.Follow AuthorJun 16, 2026, 03:42am EDTSummaryFox is acquiring Roku for $22 billion in a cash-and-stock deal, aiming to control the “home screen” where many streaming sessions begin. The deal places Fox, long a supplier of live sports and news, at the streaming gateway through Roku’s operating system and 100 million-plus households. It gives Tubi owned distribution, strengthens discovery for Fox One and connects live programming, advertising and viewer data in one environment. While Fox expects $400 million in cost synergies, the deal’s heart is distribution. The key question is whether Fox can use Roku to promote its own services while preserving the open, partner-friendly reputation that gives Roku much of its value. The deal is expected to close in the first half of 2027.Show More NEW YORK, NEW YORK - JUNE 15: The Fox Corporation headquarters are seen on June 15, 2026 in New York City. Fox Corp announced that they will be buying Roku in ‌a cash-and-stock deal that is valued at about $22 billion, that gives the company access to the more than 100 million households using Roku's streaming platform. This is Fox's first major acquisition since CEO and Chairman Lachlan Murdoch took control of the media empire from his father Rupert Murdoch. (Photo by Michael M. Santiago/Getty Images)Getty ImagesFox has agreed to acquire Roku in a cash-and-stock deal valued at approximately $22 billion in enterprise value. The most useful way to read the deal is not as the purchase of another streaming service. It is the purchase of the screen viewers see before they choose what to watch.That distinction explains the timing. Streaming reached 48% of total U.S. television viewing in March 2026, up from 25% in 2020. Fox cited those figures, drawn from Nielsen’s The Gau...