Fox Clears Foreign Approvals for $22B Roku Deal
Fox has secured all required foreign regulatory approvals for its acquisition of Roku, with closing expected in the first half of 2027.
Updated on Nov. 2, 2026 in Television
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Fox confirmed during its earnings call that it has received all required foreign regulatory approvals for its planned $22 billion acquisition of Roku. Shareholders of both companies voted in favor of the combination in mid-October, and the deal still awaits final U.S. regulatory approval.
Why it matters
The acquisition is intended to accelerate Fox's shift toward digital distribution and advertising, bringing Roku's global streaming reach under the Fox umbrella. Integrating Roku with Fox's Tubi is expected to strengthen the company's position in connected-TV advertising.
The $22 billion transaction pays Roku shareholders $96 in cash plus 0.9693 Fox Class A shares per share, leaving Fox holders with roughly 73% of the combined company. Roku's platform reaches more than 100 million streaming households worldwide and is present in more than half of U.S. broadband homes, though final U.S. regulatory approval is still pending.
The players
Fox Corporation
Fox Corporation is a major American media company best known for its broadcast network and cable channels, and it operates the Tubi streaming service.
Roku
Roku is a streaming platform company whose devices and software power television viewing for households across the United States and abroad.
U.S. Department of Justice
The U.S. Department of Justice is the federal agency responsible for enforcing antitrust law and reviewing major corporate mergers.
The details
Fox has arranged financing for the cash portion of the consideration through new debt and existing resources, supported by committed bridge facilities. The Department of Justice's second request under the Hart-Scott-Rodino Act means the U.S. review continues even as foreign approvals are complete.
Timeline
June 2026: Acquisition agreement first announced.
Early September 2026: Department of Justice issued a second request under the Hart-Scott-Rodino Act.
Mid-October 2026: Shareholders of both companies voted in favor of the combination.
November 2, 2026: Fox confirmed all required foreign regulatory approvals were secured.
First half of 2027: Expected closing of the transaction, subject to final U.S. approval.
Industry Dynamics
The Fox-Roku deal sits inside the broader streaming consolidation cycle, where legacy media companies are buying distribution platforms to control both content and advertising inventory. Its extended federal review follows the Hart-Scott-Rodino Act's process for large combinations, which has become a central checkpoint for media mergers.
For viewers, the deal may eventually change how Roku-based content and Fox's Tubi service are bundled and advertised, though no immediate changes to access or pricing were announced. The transaction does not take effect until the expected closing in the first half of 2027.
The takeaway
The Fox-Roku combination shows how legacy media companies are pursuing streaming distribution and connected-TV advertising at scale. Readers tracking the deal should watch for the final U.S. regulatory decision, which will determine whether the transaction closes on schedule.
What happens next
The Department of Justice's review under the Hart-Scott-Rodino Act must conclude before the transaction can close, with completion expected in the first half of 2027.
Further reading
For broader context on how streaming platforms are reshaping the business of TV, explore our Television coverage.
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