Fox is about to take over the TVs in more than 100 million homes worldwide. On Monday, Fox announced that it's acquiring Roku, the streaming middleman that serves as a portal for viewers to hop into services like Netflix, Disney Plus, Hulu, and more. The $22 billion deal may not change Roku's familiar purple interface, but it could put Fox in control of your data behind the screen.

During a call with investors, Fox CEO Lachlan Murdoch said the plan is to keep the two companies separate. Fox aims to grow its business by adding Fox Sports, news content, and local stations to Roku - one of the most popular streaming device and smart TV platfor …

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Fox Corporation has agreed to buy Roku Inc. for $160 per share, an approximate enterprise value of $22 billion, the firms announced today.

The acquisition would unite Fox’s broadcast channels, including Fox, Fox News, Fox Business, and FS1, as well as its streaming businesses, including Tubi, a free ad-supported streaming television (FAST) platform that Fox bought in 2020, with Roku’s own FAST service, The Roku Channel, and Roku’s streaming hardware business, including its streaming sticks and smart TVs. Roku says it has 100 million households using its platform.

The most valuable part of Roku’s business isn't its hardware, which lost $19.1 million in the quarter ending March 31, 2026, but its the operating system (Roku OS) and advertising business. In that same quarter, Roku’s advertising and subscriptions business posted a gross profit of $584.1 million, with the advertising business pulling in $371 million in revenue. The COVID-19 pandemic helped Roku become profitable in 2021, but the company didn’t see annual profitability again until 2025.

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Fox says the deal will create the third-largest television company in the United States.

Is it time to double down on red?

Fox has announced that it's acquiring Roku outright, in a deal that values the streaming company at $22 billion. Once the deal is complete, Fox content will be promoted more heavily than before on Roku streamers and smart TVs.

The deal will see Fox's TV networks and Tubi streamer combine with Roku's network of streaming devices, smart TV software, and The Roku Channel. The companies say in a press release that by combining they'll become the third-largest player in the US TV industry by viewing share.

"This is a defining moment for Fox, and a natural extension of the deliberate and focused strategy we have been executing for nearly a decad …

Read the full story at The Verge.