❯ Shareholders approve Fox’s roughly $22 billion purchase of Roku, expected to close in the first half of next year

Shareholders vote yesTheWrap reported on October 14 that preliminary results from the special meetings show the deal approved: about 99.9% of Fox’s voting Class B shares voted yes, and Roku’s final tally will be filed separately with the SEC.

How it's paidThe deal, announced in June, is worth about $22 billion in enterprise value. Each Roku share gets $96 in cash plus 0.9693 Fox Class A shares, about $160 at the announcement price. Roku holders will own about 27% of Fox after closing.

A content company buys the TV entry pointFox has live sports and news plus free streaming service Tubi with 110 million monthly users; Roku runs a connected-TV platform reaching more than 100 million US streaming households, the first screen viewers see. Fox CEO Lachlan Murdoch said the deal pairs Fox’s live sports and news with Roku’s streaming distribution and technology.

Third-largest in the USIn July Nielsen data, Fox had 7.8% of US TV viewing and The Roku Channel 2.9%. TheWrap says the combined company would be the third-largest US media distributor, behind YouTube and the combined Paramount-Warner Bros. Discovery. Fox could sell ads on an entry point it controls, and advertisers could buy content and audience in one place.

The DOJ still has to clear itThe Justice Department issued a second request for information in September; under antitrust law, the waiting period ends 30 days after both companies substantially comply. Closing is expected in the first half of 2027.

▮ SIGNALStreaming competition ultimately comes down to who controls both the shows and the screen viewers see when they turn on the TV.