Shareholders Vote to Approve Fox Acquisition of Roku

Shareholders of both Fox Corp. and Roku voted to approve Fox's $22 billion purchase of the streaming-video platform company during separate special meetings held Wednesday. The majority of shares owned by investors from both companies supported the transaction, while exact final vote tallies will be shared later in regulatory filings. Fox originally announced the agreement in June to acquire Roku for $160 per share, using about $14.2 billion in cash alongside the rest in Fox Class A common stock. Fox plans to finish the acquisition in the first half of calendar year 2027, pending approval from the Justice Department and other regulators.

Regulation And Impact

The Department of Justice previously issued a second request for documents, which extends the antitrust waiting period for 30 days once both companies fully reply to the inquiry. The purchase will expand Fox's streaming reach and grow its presence in free, ad-supported streaming via Fox's Tubi and the Roku Channel. Fox Corp. CEO Lachlan Murdoch stated in June that the deal will transform the company into high-growth areas and improve its overall growth profile. Fox also noted it will keep Roku running as an open platform, and Roku founder and CEO Anthony Wood will take on a continued role in the combined company.

Context

Large media and streaming mergers typically face close review by federal regulators to make sure competition in the market stays fair. Bringing together a traditional broadcast and media company with a major streaming platform shows how older media brands are working to build their digital audiences.