Roku Completes Previously Announced $22 Billion Acquisition by FOX Corporation
The Technology and Public M&A teams advised Roku, Inc., (“Roku”), in its sale to FOX Corporation (Nasdaq: FOXA, FOX). The transaction, announced earlier this year at an approximately $22 billion enterprise value, was completed on November 6, 2026.
Under the terms of the merger agreement, Roku stockholders are entitled to receive $95.30 in cash and 0.9799 shares of FOX Class A common stock for each share of Roku Class A and Roku Class B common stock they owned immediately prior to closing. As a result of the transaction, FOX stockholders own approximately 74% of the outstanding shares of FOX common stock, and former Roku stockholders own approximately 26%.
Roku pioneered streaming on TV. Today, it is the #1 TV streaming platform in the US, Canada, and Mexico by hours streamed (Hypothesis Group, December 2025). Roku connects viewers to the content they love, enables content publishers to build and monetize large audiences through advertising and subscriptions, and provides advertisers with unique capabilities to reach and engage consumers. Roku streaming players and Roku-made TVs are available at major retailers, and licensed Roku TV™ models are sold by leading TV brands in more than 15 countries around the world. Roku also owns and operates The Roku Channel, the home of premium and free entertainment; Howdy, a low-cost subscription service; and Frndly TV, a live TV streaming service.
The Goodwin team was led by Joshua Zachariah, Craig Schmitz, James Ding, and Alan Sun and included Ben Colao, Justice Njoku, Grace Kim, Raina Innocent, Lillian Weitz, Daniela Madjarian, Stuart Ogg, James Matarese, Kelsey Lemaster, Garrett Gaughan, Christina Ademola, Jonathan Burr, James Mattus, Janet Andolina, Sarah Bock, Robert Carroll, David Lynn, Alex Fisher, Qiuyu (Zoe) Li, Emma Randall, Harry Mellor, Chad Vella, Stephen Charkoudian, Jason Yeoun, Jacqueline Klosek, Deborah Birnbach, Drew DiMaiti, Brian Mukherjee, Mark David McPherson, Andrew Lacy, Andrew Jensen, Sarah Jordan, Anuj Ghai, John Goheen, Stephen Mavroghenis, Brady Cummins, Christina Kolotourou, Kevin Walsh, Arom Yun, Lauren Brandt, Reid Bagwell, Arthur Nahas, Lee Douthitt, Hyunseok Doh, Maria Belen Gravano, Brandon Richards, Nathan Brodeur, Jacob Hoback, Emma Liberman, Devan Greevy, Elliot Luke, Amy Koss, Michelle Briggs, Simone Waterbury, Ortal Ben Aharon, Sarah Jackson, Danielle Fong, Vicky Ling, Samuel Honnywill, and Michael Casaburi.
For more information, please read the press release.