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Fox Corporation has completed the 22 billion dollar acquisition of Roku on November 6 2026. The US media group now owns not only channels, sports rights and the free streaming service Tubi, but also one of the most important surfaces through which people find streaming offers at all. For advertisers, this is the decisive part of the deal: content, home screen, audience data and ad sales now sit under one roof.
From TV broadcaster to platform operator
When Fox and Roku presented their agreement on June 15, closing was only expected in the first half of 2027. Now the transaction is already complete. According to the company, Roku reaches more than 100 million streaming households worldwide. The new Fox Digital Platforms division brings together Roku, Tubi, Fox One and Red Seat Ventures. Roku founder Anthony Wood becomes co-chair of the division and joins the Fox board of directors; Paul Cheesbrough takes on the CEO role as the other co-chair.
The original valuation was around 22 billion dollars in enterprise value. At closing, former Roku shareholders receive 95,30 dollars in cash and 0,9799 Fox Class A shares per share. Existing Fox shareholders will then hold roughly 74 percent of the shares, and former Roku investors around 26 percent. Roku will no longer be traded independently on the Nasdaq. Fox expects 400 million dollars in recurring annual cost synergies within two years.
Source: Fox completion announcement from November 6 · Original acquisition announcement from June 15
Whoever owns the TV home screen sits in front of the streaming feed
Roku is more than a streaming app: the platform connects TVs and streaming players with apps, recommendations and advertising. Fox gains direct access to the interface where users choose between offers. Added to that are two ad-supported services with different setups: Tubi, with a large on-demand catalogue, and The Roku Channel, with free channels and streaming programmes. Fox One adds paid news and sports content.
This changes the bargaining position on both sides of the advertising market. Brands can reach viewers through a large platform operator, while streaming providers must also pay attention to how their content is found on its interface. Fox therefore explicitly emphasises that Roku is to remain an open ecosystem for third-party providers.
Even before the acquisition, it was clear how important free streaming services have become as brands: Tubi has aligned its first global campaign around emotions rather than genres. The new owner now combines this media brand with a technical distribution platform.
Roku advertising recently grew by 23 percent
Rokus latest financial figures show why Fox values this access so highly. In the third quarter of 2026, advertising revenue rose by 23 percent to around 727 million dollars; the entire platform segment, including subscriptions, reached 1,3 billion dollars. Roku also reported 39,9 billion streamed hours in the quarter. The figures come from the 2 November quarterly report filed with the US Securities and Exchange Commission.
Even more interesting for performance marketers is a product announcement from November 4: with Roku Outcomes, advertisers can optimise campaigns for specific actions such as app installs and subscriptions. Algorithms continuously adjust delivery. In an early test group of nine paid external campaigns, the median cost per action was, according to Roku, 38 percent below the set target value; the feature initially launches with selected ad formats and advertisers. The technical direction is clear: streaming TV is adopting optimisation logic that marketers know from social and search ads.
Source: Roku Outcomes, November 4
This fits into a larger market trend: Recent quarterly figures show strong growth for CTV providers such as Magnite. At the same time, the industry is working to go beyond counting impressions and instead link TV reach to concrete actions.
What German media teams should keep an eye on
Roku's reach and the concrete advertising offers relate mainly to the US market. For German campaigns, the platform model behind it is therefore more interesting than an immediately new booking channel. Anyone planning CTV should in future check three layers together: Which interface brings viewers to a piece of content? Which advertising inventory can be booked there? And which signals are used to measure reach, frequency and conversions?
The market is thus moving away from the individual TV spot towards marketing that combines device interface, content and performance data. Similarly, our overview of YouTube on Connected TV places the shift from the mobile feed to the living room in context.
The acquisition is already complete. Now it will become clear how Fox uses the new scale in product development and advertising sales – and how much room competitors keep on Roku's home screen.
Further coverage: Reuters, 6. November 2026.