Published June 15
Fox announced on Monday that it was buying Roku for $160 per share in a deal that values the streaming technology company at approximately $22 billion.
The acquisition will put Roku’s free, ad-supported streaming TV (FAST) platform, The Roku Channel, under the same umbrella as Fox’s own FAST service, Tubi, potentially reshaping the free streaming TV landscape.
Roku also operates Howdy, the ad-supported streaming network that costs just $3 per month, while Fox is home to the Fox One streaming platform.
“The transaction combines FOX’s leading sports, news and entertainment content and the Tubi service, with Roku’s leading connected TV platform, The Roku Channel, first-party data and direct relationship with more than 100 million global streaming households,” the announcement said.
“Together, FOX and Roku will create a scaled next-generation media and technology company positioned at the intersection of two of the most important forces reshaping video consumption: the enduring primacy of live sports and news, and the continued rise of streaming.”
The companies added that they are committed to “operate Roku as an open, partner-friendly platform and to the continued ubiquitous distribution of FOX content.”
The deal comes amid Fox’s presentation of the World Cup, with Tubi having livestreamed two opening matches over the weekend.
The Roku Channel has also dipped into live sports in recent years; in 2024, it landed the rights to Sunday MLB games, the first major live sports deal for a FAST platform.
FAST consumption has been on the rise in that time. In April, Roku announced it surpassed 100 million streaming households, and Tubi says it reaches 100 million monthly active users.
In Nielsen’s latest Gauge report for March TV viewership, The Roku Channel and Tubi accounted for 3% and 2.2% of total streaming viewing time in the U.S. Combined, the 5.2% would be more than Prime Video, trailing only YouTube, Netflix and Disney’s combined streaming assets.
From a company standpoint, including all TV viewing between linear and streaming, a combined Roku and Fox entity would have accounted for 10.2% of viewing time in March — third only to YouTube and Disney.
On an episode of The Big Impression podcast last year, Roku Vice President of Advertising Marketing and Measurement Sarah Harms told The Current that the 2025 livestream of the Super Bowl on Tubi marked a moment that showcased how far connected TV (CTV) has come.
“We never thought the Super Bowl would be at that level, but it was streamed really without a hitch,” Harms said. “We were happy to support it. We drove some amazing traffic to Tubi. I think 10 years ago, we never thought that would be the case.”
