FOX Corp. and Roku shareholders have approved a proposed $22 billion acquisition, putting the companies closer to a major media deal. The transaction remains on track to close in the first half of 2027.
What We Know: The companies held separate special shareholder meetings on Wednesday, October 14th, to vote on the proposed purchase. Preliminary tallies indicate that both groups approved the transaction, although the companies still must disclose the final results in regulatory filings. FOX expects to complete the acquisition during the first half of 2027. Once the deal closes, Roku stockholders will own approximately 27% of FOX’s outstanding shares.
What’s At Stake: The $22 billion acquisition would significantly expand FOX’s streaming distribution and digital advertising businesses. By combining FOX’s news, sports, and entertainment programming with Roku’s streaming platform, the company would gain a larger presence across the television ecosystem. The transaction would also position FOX as the country’s third-largest media distributor, behind YouTube and the newly combined Paramount Skydance and Warner Bros. Discovery.
What Remains Unclear: Despite shareholder approval, the acquisition still faces regulatory hurdles. The U.S. Department of Justice issued a second request for additional information in September, extending its review of the proposed transaction. The companies must satisfy outstanding regulatory requirements and other closing conditions before completing the deal. Final shareholder vote tallies also remain pending.
What It Means: The approval represents a significant step in FOX’s effort to strengthen its position in streaming and connected television. Roku’s technology, audience reach, and advertising capabilities could complement FOX’s established programming brands, including FOX News, FOX Sports, and Tubi. However, regulatory approval remains a key obstacle before the companies can finalize the acquisition and begin integrating their businesses.
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