FOX completes acquisition of Roku

FOX said it completed its acquisition of Roku, Inc. on November 6, 2026. FOX said Roku shares would cease trading on the Nasdaq as of that day.

FOX said it will issue approximately 144.5 million shares of FOX Class A common stock and pay aggregate cash of approximately $14.1 billion to former Roku stockholders. These figures exclude shares and cash tied to vested or converted Roku equity awards and dissenting shares. According to the company, FOX stockholders own approximately 74% of outstanding FOX common stock, and former Roku stockholders own approximately 26%.

FOX borrowed $2.0 billion under an amended and restated term loan agreement dated November 5, 2026, with Morgan Stanley Senior Funding, Inc. as administrative agent. It also borrowed $8.4 billion under a bridge credit agreement with Morgan Stanley as administrative agent, which matures 364 days after closing. The proceeds were used to pay part of the cash consideration and other amounts payable in connection with the mergers.

The FOX board increased its size to eight directors and appointed Anthony Wood, Roku's former chairman, president and chief executive officer, effective immediately after the effective time. FOX said Wood will serve as Co-Chair FOX Digital Platforms, and Paul Cheesbrough assumes the role of Co-Chair and CEO FOX Digital Platforms.

FOX expects approximately $400 million of run-rate cost synergies within two years following the transaction close. It also said it anticipates the transaction will be accretive to free cash flow per share by the second full year after closing.