Fox to acquire Roku for $22 billion（約3.5兆円）, combining broadcast channels and streaming platforms to compete in the crowded TV and advertising market.

What happened

Fox Corporation agreed to buy Roku Inc. for $160 per share, representing an approximate enterprise value of $22 billion（約3.5兆円）. The deal would merge Fox's broadcast channels (Fox, Fox News, Fox Business, FS1), streaming services (Tubi and The Roku Channel), and hardware, with Roku's operating system and advertising business.

Why it matters

Roku's core strength lies not in hardware—which lost $19.1 million（約31億円） in the quarter ending March 31, 2026—but in its advertising and subscriptions business, which posted a gross profit of $584.1 million（約930億円） in that same quarter, with advertising revenue of $371 million（約590億円）. The acquisition allows Roku to scale and maintain profitability more easily, according to CEO Anthony Wood, while Fox gains access to Roku's 100 million household user base and advertising infrastructure.

What to watch

On a pro forma basis, the combined company will become the third-largest player in US television by share of viewing. Currently, YouTube leads at 13.2 percent, The Walt Disney Company is second at 10.5 percent, and NBCUniversal/Versant is third at 8.4 percent; Fox alone stood at 7.2 percent and The Roku Channel at 3 percent in Nielsen's March data.