Fox to buy Roku in $22 billion streaming platform deal

Fox Corp. said Monday it will buy Roku in a cash-and-stock deal valued at about $22 billion, including debt, as the company pushes deeper into streaming distribution, connected-TV ads and platform control.

Fox expects the deal to close in the first half of 2027. Fox and Roku shareholders and regulators still must approve the transaction. Fox shareholders would own about 73% of the combined company, while Roku shareholders would own about 27%, according to Associated Press reporting cited by 9to5Mac.

The deal would combine Fox’s sports, news and entertainment programming, its Tubi ad-supported streaming service and Roku’s TV operating system, streaming devices, ad tools and channel business. Roku says its platform reaches more than 100 million households.

For app teams, the deal raises practical questions around Roku channel strategy, ad inventory, app placement and data access. Roku has long served as a neutral distribution layer for Netflix, Disney+, Max, YouTube, Apple TV+, Prime Video and smaller streaming services. Fox ownership could force developers to watch how Roku ranks apps, promotes live content and prices advertising placements.

Roku developers should review the Roku Developer portal, SceneGraph channel requirements and Roku OS release notes before they make roadmap calls. Fox has said Roku will remain an open platform, but developers will need proof in placement behavior, certification review times and ad policy changes after the deal closes.

The transaction also affects mobile teams. Many streaming products use iOS and Android apps as account hubs, remote controls and second-screen tools for Roku playback. Product teams that support AirPlay, Google Cast, Roku device discovery and in-app subscriptions should audit login flows, entitlement checks and deep links across TV, phone and tablet apps.

Apple developers should test Roku handoff paths against current tvOS and iOS targets. Android teams should do the same with Android TV and Google Cast integrations. Cross-platform teams using React Native, Flutter or Kotlin Multiplatform should separate account, playback and device-control code so a Roku policy change does not force rewrites across the mobile stack.

Fox bought Tubi in 2020, and the Roku deal gives Fox a larger ad-supported streaming base. That combination could strengthen free ad-supported television, known as FAST, across live channels, on-demand catalogs and smart-TV home screens.

Developers should expect more pressure around ad measurement. Roku’s ad business already connects viewing data, device identity and campaign placement. Fox adds live sports and news inventory, which advertisers value because viewers tend to watch in real time. App teams that sell ad space may need cleaner consent flows, stronger privacy disclosures and tighter server-side ad insertion logs.

Regulators may focus on whether Fox can own a major TV platform while it also owns content that competes for placement on that platform. Smaller streaming apps should track the review because regulators could require conduct rules, data limits or platform-access commitments.

The migration work starts with inventory. Teams should list each Roku channel, SDK dependency, ad partner, analytics endpoint and account-linking path. They should flag code that assumes Roku will treat every app category the same way, then test those assumptions after Fox and Roku publish integration plans.

No developer needs to rewrite a Roku app because of Monday’s announcement. Teams that rely on Roku for discovery, ads or subscriber acquisition should treat the next year as a planning window and watch for changes in certification rules, ad APIs and home-screen promotion.