Fox Closes $22 Billion Roku Acquisition After DOJ Review

Fox completed its $22 billion acquisition of Roku on Friday, closing a deal that brings the streaming platform under Fox's ownership roughly six months ahead of the timeline the two companies set when they announced the merger in June, according to TechCrunch. Fox says the combined company now ranks as the third-largest television business in the U.S. by viewership.

What did Fox and Roku just complete?

The deal formally folds Roku, the streaming company founded in 2002, into Fox's corporate structure, according to TechCrunch's report. Fox said the acquisition gives it direct access to Roku's reach of more than 100 million households, an audience the company expects to use to sharpen advertising targeting and build out its position in connected TV. Fox also said the tie-up reduces its dependence on traditional TV distribution, the outlet reported.

Why did the deal close early?

When Fox and Roku first announced the merger in June, the companies projected a close in the first half of 2027. Instead, the transaction wrapped in early November 2026 — a timeline roughly six months shorter than originally forecast, per TechCrunch. The outlet reported that the completion came two months after the Justice Department issued a second request for information to both companies, seeking additional data and documents as part of its antitrust review, and that reports earlier in the month suggested the deal was nearing U.S. regulatory approval before it ultimately closed.

What does Roku's founder say about the deal?

Roku founder Anthony Wood framed the merger as a continuation of the company's original mission rather than a departure from it. "We started Roku more than two decades ago to give people a better way to watch TV, and that mission doesn't change today. What does change is our reach and resources," Wood said in a statement reported by TechCrunch. "Our teams will keep building and innovating as they always have, now with the support and capabilities of Fox behind us."

The statement did not address the DOJ's second request or specify what, if anything, regulators required as a condition of approval. TechCrunch's report does not indicate whether Fox or Roku commented separately on the antitrust review's resolution.

What was the DOJ's role in reviewing the merger?

The Justice Department's second request, issued roughly two months before closing, is a standard antitrust tool used to extend the review period for large mergers by compelling companies to turn over additional records. TechCrunch reported that the request came after the initial announcement and that the deal was described as nearing regulatory approval before it closed. The report does not detail the DOJ's specific findings or whether the agency imposed conditions on the final transaction.

What does this mean for the connected TV market?

Fox's stated rationale centers on scale. The company told TechCrunch it expects the merger to strengthen its position in what it describes as the fast-growing connected TV market, using Roku's household footprint to improve ad targeting across its properties. Ranking as the third-largest U.S. television business by viewership, per Fox's own figures reported by TechCrunch, puts the combined company in more direct competition with legacy broadcast and cable groups as viewing continues shifting to streaming platforms.

The TechCrunch report does not include viewership or revenue figures for competing platforms, so the relative size of that new ranking cannot be independently verified from the available reporting.

What to watch next

• Whether Fox discloses integration plans for Roku's advertising and device businesses, and on what timeline.
• Whether the DOJ publishes any closing statement or consent terms tied to the second request for information.
• Whether Roku's device and channel operations continue under the Roku brand or are rebranded under Fox.
• How competing connected TV platforms respond to a larger, Fox-backed Roku in advertising negotiations.
• Whether Anthony Wood or other Roku leadership remain in operating roles following the close.

Fox and Roku have not set a public date for additional disclosures on integration, and TechCrunch's report does not indicate when further details will be released.

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