Fox Corp. has reached an agreement to acquire Roku for roughly $22 billion, marking another chapter in media consolidation as the industry grapples with changing dynamics and mounting challenges.
On Monday Fox announced it would acquire Roku for $160 per share in a cash and stock transaction. Fox plans to fund the cash portion of the deal with a combination of cash on hand and new debt. The company said it obtained a $12 billion loan for the transaction.
Fox’s stock was trading down about 13% in premarket trading, while Roku was up about 2%.
The combination will bring together Fox’s news and sports channels, as well as its free ad-supported streamer Tubi with Roku, the maker of streaming devices and also the home of The Roku Channel, a service similar to Tubi.
On Monday, Fox CEO Lachlan Murdoch called it a “defining moment” for the company.
The proposed acquisition comes about seven years after Fox’s last major deal, when it shed its entertainment assets in a $71 billion deal with Disney . Since then, Fox’s portfolio has primarily been made up of its TV channels, namely broadcast network Fox, which has been airing the FIFA World Cup since last week, and Fox News Channel on cable.
In 2020 Fox acquired Tubi for $440 million. That service had long been its answer to the streaming wars, prior to the announcement of Fox One, its direct-to-consumer option that launched last year.
On a Monday call with investors, Murdoch noted that Fox was both “an early investor in Roku and a longtime commercial partner.”
He added that since 2019 Fox has “reoriented” the company, centering it around live news and sports, and emphasized the focus on driving advertising revenue.
Advertising has taken a renewed importance for media companies as they look to build up streaming platforms and lean on live sports and events, which are capturing the biggest audiences.
Fox said Monday it expects to see approximately $400 million in run-rate cost synergies from the deal with additional revenue upside. After the acquisition closes, existing Fox shareholders would own roughly 73% of the combined company and Roku shareholders would own about 27%.
The deal, which has already been approved by the boards of directors of both companies, is expected to close in the first half of 2027.

A woman has died in what appears to be a tragic extreme sports accident in Brazil.
Three men have been arrested over the incident, in which instructors failed to attach a rope to her before helping her jump from a bridge in São Paulo state.
Footage went viral over the weekend of Maria Eduarda Rodrigues de Freitas being carried to the edge of the abandoned bridge before being let go on Saturday. She fell 40m (130ft) and emergency services pronounced her dead at the scene.
Police are now investigating whether the men are culpable of homicide with eventual intent – when someone does not have the direct intention but assumes the risk of killing – local news site Globo reports.
The incident happened in Ponte do Esqueleto, on the border of Limeira and Cordeirópolis, in the interior of São Paulo, Brazil.
In the footage posted on social media, two men in white helmets can be seen holding Rodrigues de Freitas, 21, by her arms while a third is behind holding her feet.
When she is cast off the bridge, an onlooker screams at the instructors to attach her cord.
The three men were wearing harnesses that appear to be attached to a security rope.
It uses low-stretch climbing ropes that convert the fall into a horizontal, pendulum swing, while bungee jumping uses an elastic rubber cord that creates a vertical, bouncing effect.
The bridge, called “Skeleton Bridge” has been abandoned for years and falls under responsibility of the federal government. Brazil’s Secretariat of Federal Assets (SPU) said it was “available to assist the authorities in the investigations”.
The City Hall of Limeira (SP) announced it would sue the federal government for failing to adequately manage the bridge.
It said it “had been adopting administrative measures and demanding action from the federal agencies responsible for the area”.

British Prime Minister Keir Starmer has announced a sweeping ban on social media use for those under 16, joining other countries around the world seeking to protect children online.
“It’s a big step for our country,” Starmer said in a recorded video message released Monday. “Social media is making our children unhappy and unsafe, and as a parent, as much as a Prime Minister, I just can’t let that go on anymore,” he added.
The ban will include social platforms like Snapchat, TikTok, YouTube, Instagram, Facebook and X, while there is no intention for messaging services like WhatsApp and Signal to be included, the government said in a release.
Starmer’s government had been considering tougher limits on children’s social media as governments around the world face growing pressure to curb young people’s time online.
The push gained momentum after Australia became the first country to pass a law barring children under 16 from accessing major social media platforms, an effort aimed at addressing the concerns about the physical and mental health effects of excessive online use.
The announcement also follows a national consultation survey that received more than 116,000 responses between March 2 and May 26 and solicited public opinions on children’s use of technology.
More than 83% of parents who responded said the risks of social media use outweigh the benefits, according to the consultation, and 90% expressed support for a minimum age of 16 before children can access social media platforms.
Enforcement has historically been difficult, however, as children often find ways around age limits imposed by technology companies.
Starmer’s government called Monday’s announcement a “landmark” move, saying the new measures would be brought to Parliament before Christmas, with protections expected to come into force next spring.
Beyond the blanket social media ban, the restrictions will also include blocks on functions such as livestreaming and stranger communication with children for under-16s, it added.
“It’s not an easy thing to do. I’ll be honest about that,” Starmer said of the new measures. “We haven’t rushed into it. We’ve looked carefully at the evidence, and we’ll have to adapt our approach as technology changes, learn from other countries which are taking similar steps,” he said.
The decision has been resisted, and it will face resistance from some of the most powerful companies in the world, Starmer added. “But we will take them on, and we will win, because the need for action could not be any clearer.”
In Australia, those under 16 are now prohibited from using platforms including Facebook, Instagram, TikTok, X, Snapchat and Reddit. But since the ban took effect in December, authorities have struggled to enforce it. Australia’s eSafety Commission, its top internet regulator, found in March that 7 in 10 parents reported their child still had an account on newly restricted platforms.
Over the weekend, the U.K. announced a new £132.5 million “Every Child Can” program to fund “enriching activities” across sports, art and nature in schools and in local communities as an alternative to scrolling on digital devices.
Last week, Starmer asked tech companies, including Apple and Google, to implement measures that would make it impossible for children to take, share or view nude images, part of a broader push to reduce online harms. The companies have three months to implement changes before the U.K. introduces legislation that forces them to do so, according to a government news release.
“This will prevent predators from being able to exploit and abuse victims through their devices, as well as stopping children from being able to access pornography,” the news release stated. “Adults will still be able to take, share or view nude content through an age verification process.”
Apple also recently rolled out age checks for U.K.-based iPhone and iPad users, requiring individuals to either verify their age with an ID or credit card or have automatic content filters activated on their device.
In the United States, major social media companies face a growing number of lawsuits alleging they have contributed to mental health harms among children and failed to protect them from online predators.
A key tool in many of the proposed restrictions is mandatory age verification, which can require a government-issued ID or AI-powered technology that estimates a user’s age through facial analysis.

President Donald Trump’s 80th birthday celebration, a UFC event being held at the White House, has been delayed due to intense weather warnings.
The National Weather Service has issued a severe thunderstorm watch until 11 p.m. for the Washington D.C. area. Forecasters have warned of the risk of hail, wind gusts of up to 70mph, and lightning.
Pool reporters noted that as of 7.43 p.m., 17 minutes before the original start time, they had not yet received formal guidance on the delay or been called to enter “The Claw,” the giant metal structure erected outside the White House where the fights will take place.
“It seems likely we will start late, though the exact delay remains unclear. President Trump was scheduled to join the event at 7:45,” the New York Post’s Steven Nelson reported.
NBC reported that after an hour-long delay, the pre-fight broadcast on Paramount+ began at 8 p.m with the fights expected to start at 9 p.m. A notice in the corner of the screen reads “RAIN DELAY.”
In response to reports from The Weather Channel of expected thunderstorms earlier in the day, the official @RapidResponse47 account posted, “This event is about celebrating America’s unmatched greatness after 250 years—which apparently doesn’t sit well with the friendless loser who wrote this bulls–t clickbait headline.”
“Rain or shine, we’re celebrating our great country no matter what. GOD BLESS AMERICA!”
The president eventually emerged from the White House alongside UFC CEO Dana White just before 8.30 p.m., wearing what NBC’s Andrew Greif described as a “stoic expression.”
The Zac Brown Band then performed the national anthem accompanied by the Armed Forces Joint Chorus as the U.S. Navy Blue Angels and the Air Force Thunderbirds flew overhead. After initially watching the display from the Blue Room Balcony, Trump and White made their way into The Claw.
Sports reporter Heidi Androl gave an update from the event’s command center during the broadcast, explaining that event organizers were working closely with the National Weather Service to track the storms.
Androl clarified that organizers were not concerned about rain, but about high winds and lightning. “I am told that if that happens, a shelter-in-place will be initiated,” Androl reported, adding that those on the South Lawn will shelter in the Eisenhower Executive Office Building, where the fighters’ locker rooms are located, if such an order is issued.
Over 4000 attendees gathered at the arena on the White House South Lawn for the seven-fight card. Guests include many members of Trump’s family, while many celebrities who reportedly received invitations declined to attend.
After the delay, the fighting commenced shortly after 9 p.m., with the first fight of the night taking place between Brazilian fighter Diego Lopes and American Steve Garcia. Despite riding high on a seven-fight winning streak, Garcia was knocked out by Lopes in two rounds.

Washington — For the first time in U.S. history, the White House will host United Fighting Championship bouts on Sunday, marking the nation’s 250th anniversary and coinciding with President Trump’s 80th birthday.
Mixed martial arts fighters will square off on the White House South Lawn for UFC Freedom 250, culminating in a main card fight between Georgian-Spanish Ilia Topuria and American Justin Gaethje for the undisputed UFC lightweight championship. The main card is set for 8 p.m. ET and will be streamed on Paramount+, which is owned by Paramount Skydance, the parent company of CBS News. Earlier fights begin at 5 p.m. ET.
The president and other top officials are expected to attend the fight. The South Lawn is expected to be filled with 5,000 guests, including members of the military. Fans will be able to watch from the nearby Ellipse. UFC also has a map of bars showing the fights.
Mr. Trump has sought to bring the fights to his presidential turf for almost a year, and UFC executive Dana White is a longtime friend of the president. The UFC event is just the first of a number of events marking the country’s 250th birthday. The Great American State Fair and the Freedom 250 Grand Prix of Washington, D.C., are other events on tap this summer from Freedom 250, a Trump-aligned organization planning events for the anniversary of the signing of the Declaration of Independence.
The view of the White House from nearby streets has been altered by the setup of star-spangled rigging, which towers at over 92 feet and encloses a UFC Octagon. Mr. Trump told reporters the rigging — known as the “Claw” — will come down after the fight.
Two Virginians sued over the planned fights, arguing UFC had been unlawfully granted “unfettered access to the White House … to stage a private, for-profit sports event, with all the promotional and branding opportunities that accompany such access.”
A judge on Friday declined to block the event after the president’s Justice Department, with Acting Attorney General Todd Blanche at the helm, defended the administration’s plans, asserting that the plaintiffs filed their case too late and couldn’t prove harm.
“It would be easy enough to simply avert their gazes for the weekend,” the Justice Department said in a filing. “Instead, they seek to enlist the power of a federal court to impose their idiosyncratic preferences on the rest of the country and ruin an event designed to celebrate the United States of America.”
The president invited some of the fighters to the White House last month.
The main card event promises to be an interesting fight. Topuria, or “El Matador,” is undefeated at 17-0, and Gaethje, known as “The Highlight,” is considered the underdog.
“First of all, it’s not gonna be the biggest in UFC history; I think it’s gonna be one of the biggest events in sports history, one of the more memorable ones,” Topuria said, according to UFC. “This is a once-in-a-lifetime, very unique event, and being able to be part of an event like this — especially headlining an event like this —is something I feel very grateful about. I’m very excited for what’s coming.”
But an undisputed UFC title would be a first for Gaethje, who is eager for the challenge.
The two have had a personal scuffle online, after Gaethje made comments about his opponent’s ex-wife.
“All that guy is, is a gimmick,” Gaethje told Fox Sports Australia. “He calls himself the king. He thinks he’s a God. … I couldn’t imagine being in a room with him for 30 minutes listening to him talk about himself … And I can say this: I would leave him. That’s all I’m saying. I would leave him.”
Topuria said: “Justin crossed a line.”
“What happened between my ex-wife and me is our business,” Topuria wrote on X. “We may no longer be together, but she is the mother of my daughter.”
Gaethje said he was “joking.” A reporter asked Gaethje in a press conference if he feels like he’s made Topuria overly emotional with some of his comments.
“I hope so. I hope so,” Gaethje responded. “I hope he’s going to come out very aggressive.”
Gaethje didn’t want to preview his approach for the fight.
“Everything is misdirection,” he said. “I’m never going to show my cards before the fight.”
The full list of fights: