Roku Inc. (NASDAQ: ROKU) has agreed to be acquired by Fox Corporation (NASDAQ: FOXA) (NASDAQ: FOX) in a cash-and-stock transaction valued at approximately $22 billion in enterprise value. Under the terms, Roku shareholders will receive $160 per share — consisting of $96 in cash and 0.9693 shares of Fox Class A common stock for each Roku share. After closing, existing Fox shareholders are expected to own about 73% of the combined company, with Roku shareholders owning roughly 27%. The transaction is expected to close in the first half of calendar year 2027. The deal pairs Roku's connected-TV platform, The Roku Channel, first-party data capabilities, and relationships with more than 100 million streaming households globally with Fox's live sports, news, and entertainment portfolio — including NFL, MLB, NASCAR, Big Ten, and FIFA World Cup rights, FOX News, FOX Business, and Tubi. On a pro forma basis, the merged company is expected to become the third-largest player in U.S. television by ...