Fox Buys Roku for $22 Billion as Cable TV Homes Fall to 36%
Updated
Updated · Salon · Jun 21
Fox Buys Roku for $22 Billion as Cable TV Homes Fall to 36%
3 articles · Updated · Salon · Jun 21
Summary
$22 billion would give Fox control of Roku, the connected-TV platform in roughly half of U.S. broadband homes, extending Fox beyond news and sports into the main gateway viewers use to find streaming content.
Roku’s value lies less in devices than in its operating system, advertising stack and first-party viewing data, which let the platform rank apps, sell targeted ads and shape what appears on the television home screen.
That would also strengthen Fox’s existing streaming push through Tubi, which it bought for $440 million in 2020 and which now accounts for about 5% of U.S. streaming viewership.
The deal comes as cable’s old distribution model keeps eroding: Pew estimated cable and satellite households fell to 36% of the population in 2025 from 85% a decade earlier, making control of streaming distribution increasingly strategic.
As media giants buy the platforms we use, are viewers losing real control over what they watch?
With media's future controlled by fewer companies, what happens to the diversity of news and independent voices?
Fox Acquires Roku in $22 Billion Deal: How the Merger Will Reshape US Streaming and TV Advertising
Overview
In 2026, Fox Corporation announced a major move to acquire Roku, Inc. through a two-step cash-and-stock merger, marking a significant consolidation in the streaming TV industry. Each Roku share will be exchanged for Fox stock and cash, reflecting Fox’s strong financial position and commitment to shareholder returns. Fox’s leadership highlighted Roku’s pioneering role in streaming, aiming to combine Fox’s premium content and financial strength with Roku’s leading platform. This strategic merger is set to reshape the competitive landscape, as both companies join forces to drive growth and innovation in the rapidly evolving world of streaming television.