Fox has completed its $22 billion purchase of Roku, the two companies announced Friday. The deal gives Fox control of a streaming platform that reaches more than 100 million households in the United States. Fox first announced the acquisition in June.
With Roku now part of Fox, the company plans to put Fox Sports, news content, and local stations in front of Roku's users. Fox CEO Lachlan Murdoch said at the time of the announcement that he expects the combination of Roku's technology and platform, the content on The Roku Channel, and the content Fox brings will let the company grow its viewership in the US. Roku joins Fox's existing streaming businesses, which include the Fox One streaming service and the free streamer Tubi.
Roku founder Anthony Wood said the company started more than two decades ago to give people a better way to watch TV, and that the mission does not change. What does change, he said, is Roku's reach and resources. Wood said Fox respects Roku's culture and shares its commitment to remaining open to every content partner. He now serves on Fox's board of directors.
The acquisition may alter what Roku features on its platform, but it does not appear to affect the open nature of its streaming ecosystem, according to the companies. Roku's platform has long been built around supporting many content partners rather than a single owner's services, and Fox indicated it intends to keep that approach.
The purchase puts a major US streaming platform under the control of a traditional media company. Roku's platform reaches more than 100 million US households, giving Fox a large distribution channel for its sports, news, and local station content alongside its own Fox One service and Tubi.
Financial terms beyond the $22 billion price were not disclosed in the announcement. The companies confirmed the closing on Friday.
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