Fox Acquires Roku for $22 Billion After Founder's Departure
Roku founder Anthony Wood expressed desire to step back last fall, leading to negotiations. Fox ultimately acquired the streaming platform in a $22 billion deal. Lachlan Murdoch played a key role in courting Roku.
The acquisition timeline traces back to a late-September board meeting where founder Anthony Wood proposed a succession plan and floated a potential sale. Roku's board, wary of losing his strategic expertise, authorized a market check that eventually involved outreach to twelve potential buyers, though only Fox submitted a serious offer.
Fox's Lachlan Murdoch personally courted Wood during two New York meetings, discussing artificial intelligence and revenue growth. The deal, expected to close in early 2027, will combine Roku's 100 million households with Tubi's 110 million users. Wood will remain an executive for at least a year before transitioning to a board seat.
This merger could reshape how free, ad-supported streaming competes with subscription giants. Viewers may see consolidated ad inventories and potentially altered content offerings, while advertisers could gain a larger combined audience. Roku's hardware and operating system might integrate more deeply with Fox's broadcast and Tubi assets, affecting how households access news and entertainment. However, regulatory scrutiny and integration challenges could delay or alter these outcomes, leaving consumers and industry players watching closely.