Fox and Roku Shareholders Approve $22 Billion Deal

Shareholders at Fox Corporation and Roku have approved Fox’s planned $22 billion acquisition of the streaming-platform company, clearing a major internal hurdle while the transaction remains under federal review.

The companies held separate special meetings on October 14. Fox reported that 99.9% of the votes cast by eligible Class B shareholders supported the agreement. Preliminary reporting also showed majority approval from Roku investors, with the company’s official tally expected in a later filing.

What Fox’s Roku deal would change

The agreement values Roku at $160 per share through a mix of cash and Fox Class A stock. About $14.2 billion of the consideration would be paid in cash. If the deal closes under its announced terms, existing Fox shareholders would own approximately 73% of the combined company, while Roku shareholders would hold about 27%.

Roku gives Fox a large connected-TV platform, a major digital advertising operation and the Roku Channel. Fox already owns the free, ad-supported service Tubi along with its broadcast network, local television stations, cable news businesses and extensive sports rights. Bringing those assets together would expand Fox’s role in both content and distribution.

Roku founder and chief executive Anthony Wood is expected to retain an ongoing position with the combined business and join Fox’s board. Fox has also said it intends to continue operating Roku as an open platform for outside partners, an important point for services that rely on Roku devices and software to reach viewers.

Regulatory approval is still required

The shareholder votes do not complete the acquisition. The Justice Department issued a second request for information in September, extending the antitrust review and preventing the companies from closing until the applicable waiting period and other conditions are satisfied.

Fox still expects the transaction to close in the first half of 2027. That timeline depends on regulatory clearance, and the final Roku vote figures were not yet available in the reporting consulted for this article.

The deal’s strategic logic is clear: Fox would gain far more scale in streaming distribution and digital advertising, while Roku would be tied to a company with major live sports and news programming. Whether that combination proceeds now rests less with shareholders than with regulators evaluating its effect on the video market.