While many streaming services are worth your hard-earned money, sometimes you want to stream shows for free. Tubi is one such platform, much like Roku in its own way, although you need a Roku streaming device (some of which are better than others) to access the free shows. Today, the company that owns the first buys the second.
On June 15, 2026, Fox Corporation announced the acquisition of Roku for $22 billion, or approximately $160 per share. This is not an offer, but a “definitive agreement” with the unanimous support of both companies. All that’s left is for shareholders and regulators to approve the deal and then have the money change hands, which will likely happen in the first half of 2027.
After all, Fox will own a majority stake in Roku, with Fox shareholders owning about 73% of the combined company. However, Fox has no plans to integrate Roku into its own services. According to the announcement, both companies “are committed to continuing to operate Roku as an open, partner-friendly platform.” This likely means that Fox will continue to make Roku devices for the foreseeable future; don’t be surprised if future Rokus and updates focus on Fox content.
The logic behind the acquisition
Although Tubi isn’t the only free streaming service available, it is one of the most popular. However, believe it or not, the most watched free TV streaming service is, believe it or not, Roku. This fact was not lost on Fox shareholders and was one of the reasons they decided to buy the company.
According to Fox’s press release, the purchase “increases the scale and reach” of both companies as it “combines the leader in live news and sports with the leading connected TV platform.” Additionally, the document states that Fox’s “premium content and advertising,” combined with Roku’s “consumer interface, home screen, platform technology and direct viewer relationships,” will produce “a more powerful streaming platform.”
Fox and Roku executives are in full agreement on the acquisition (as if the unanimous support mentioned above wasn’t proof enough) and believe that together they will “become the third largest player in American television in terms of audience share.” However, not everyone is convinced. According to Deadline, Wall Street analysts are skeptical that Roku will be able to continue business as usual under Fox. Concerns have been raised regarding the ownership, distribution and performance of various brands. Although Fox CEO Lachlan Murdoch has publicly expressed his disagreement with these claims, we won’t know whether or not these fears are founded until 2027 at the earliest.
