A majority of shareholders from Fox and Roku have signed off on the former’s pending $22 billion acquisition of the latter, according to preliminary vote tallies from the companies’ special meetings held on Wednesday.
The full tally of the Fox and Roku shareholder votes will be released later in SEC filings.
The approval comes as the Department of Justice issued a “second request” for additional information in September as part of its ongoing review of the deal. That extended the waiting period under the Hart Scott Rodino Act until 30 days after both companies have substantially complied with the request, unless the DOJ terminates the waiting period early or the merging companies agree to extend it even further.
During Wednesday’s meeting, Fox Corporation CEO Lachlan Murdoch touted the deal as a “transformative transaction” that will pair its “high-impact live sports and news content” with Roku’s “leading streaming distribution and technology platform.”
If approved by regulators, the Fox-Roku deal would cement the former’s dominance in the free ad-supported streaming space. Fox already owns Tubi, which reaches a total of 110 million monthly active users. Meanwhile, Roku reaches more than 100 million streaming households.
It would also be the third-largest media distributor in the U.S., trailing behind YouTube and the combined Paramount-Warner Bros. Discovery, which was renamed to Skydance. In July, Fox accounted for 7.8% of TV viewing, while The Roku Channel accounted for 2.9%, per Nielsen’s latest Gauge report. Tubi accounted for 2% of Fox’s total share of viewership for the month.
The merger remains on track close in the first half of 2027, subject to the HSR expiration and the satisfaction of other customary closing conditions. Upon closing of the deal, Roku stockholders will own approximately 27% of Fox’s outstanding shares, while Fox shareholders will own the remaining 73%.
