Roku stockholders approved the company’s sale to Fox Corporation on October 14, and Fox’s voting shareholders backed it the same day. That clears every shareholder hurdle for the $22 billion takeover and leaves one gate before closing: an antitrust review at the US Department of Justice. Both companies still say they expect to finish the deal in the first half of 2027.
If there is a Roku stick, box or Roku-powered TV under your screen, nothing changes yet. Roku stays a standalone, Nasdaq-listed company until the merger completes, and no change to devices, apps or accounts has been announced.
How one-sided the votes were
Roku’s filing with the Securities and Exchange Commission lists 241,044,988 shares voting for the merger, 502,927 against and 511,598 abstaining. The company reports that as 81.5% of all outstanding votes. Counted only among shares that actually voted yes or no, support works out at 99.8%: 241.04 million divided by 241.55 million.
The outcome was close to settled in June. When the deal was announced, founder and chief executive Anthony Wood, together with trusts and entities linked to him that hold at least a majority of Roku’s voting power, signed an agreement promising to vote in favor.
On the Fox side, only holders of its Class B voting stock took part. Fox’s own filing shows 197,363,560 shares in favor of issuing the new stock that pays for the deal and 71,891 against, or 99.9% of votes cast.
The price, worked out
Fox agreed to pay $160 for each Roku share in a mix of cash and stock, according to the June 15 announcement. Each share gets $96.00 in cash plus 0.9693 of a Fox Class A share. At the reference price both sides fixed, $66.03, that stock slice is worth 0.9693 x $66.03 = $64.00, so the headline figure holds only while Fox stock trades near that level. Fox has lined up $12 billion of committed bridge financing to fund the cash. After closing, today’s Roku investors would hold about 27% of the enlarged Fox.
A short timeline of the deal
June 15 brought the announcement. On September 1 the joint proxy statement went to investors. On September 8 the Justice Department sent both companies a so-called second request, a demand for more documents and data, which Roku said it had expected. October 14 brought the two votes. Under the Hart-Scott-Rodino Act, the federal premerger notification law, the deal cannot close until 30 days after both firms have substantially complied with that request, unless regulators end the wait sooner.
Lawmakers have already pushed back. In a July letter to the Justice Department, Senator Elizabeth Warren and other congressional Democrats warned that the merged company could have an incentive to “preference and steer viewers to Fox content” across Roku’s homes, and that removing a competitor could let it start charging for a service that is free today.
What it means if you own a Roku
- Your hardware: Roku players and Roku-made TVs are sold at major retailers, and licensed Roku TV models come from other brands in more than 15 countries. Neither company has announced any change to hardware support as part of the deal.
- Your apps: Fox and Roku put in writing that they will keep running Roku as “an open, partner-friendly platform”. That pledge is the one to hold them to, since the home screen is the first thing every Roku owner sees.
- Free channels: Fox already owns Tubi, which it bought in 2020. Once the deal closes, one company would run both Tubi and The Roku Channel.
- Your data: Fox’s announcement lists Roku’s “first-party data” among the assets it is buying, and Roku will become a wholly owned Fox subsidiary. Expect revised privacy and account terms after closing, and read them before you click accept.
Roku has come a long way from the single Netflix box it launched in May 2008. The company now says it reaches more than 100 million streaming households worldwide, including over half of US broadband homes. After closing, Wood is set to keep a role at the combined company and join Fox’s board. The date to watch is the end of the Justice Department’s waiting period; the companies’ own target is a close no later than June 2027.
Further reading
- Wikipedia: Roku
- Roku Form 8-K: results of the October 14, 2026 stockholder vote (SEC)
- Fox Corporation to acquire Roku: June 15, 2026 announcement (SEC exhibit)
Image: TaurusEmerald, CC BY-SA 4.0 via Wikimedia Commons
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