Fox Completes $22 Billion Roku Acquisition and Reshuffles Streaming Leadership

Fox's purchase of Roku is a $22 billion move to expand its digital reach, according to World News CNA. It brings a previously independent streaming platform into Fox's ownership.

The scale is substantial. The Verge reported that Roku reaches more than 100 million households. Business Insider described the combination as a free streaming giant formed under Fox CEO Lachlan Murdoch.

The deal faced regulatory scrutiny before closing. TechCrunch reported on November 6 that Justice Department investigators had been probing the transaction a few months earlier.

In its explanation of the clearance, the Justice Department concluded that the acquisition was "not likely to result in harm to competition," according to Deadline Hollywood. The department also outlined company commitments tied to its approval.

Fox completed the acquisition on Friday, November 6. Business Insider reported that the closing came months ahead of schedule.

The closing brought immediate leadership changes. Roku Founder Anthony Wood leaves the CEO role, according to Cord Cutters News. The Hollywood Reporter reported that Mustafa Ozgen would become Roku CEO.

Fox also named Paul Cheesbrough CEO of Fox Digital Platforms. Charlie Collier, the president of Roku Media, and Anjali Sud, CEO of Tubi, are departing, The Wrap reported.

Roku is now part of Fox, with the acquisition completed rather than awaiting approval. The transaction gives Fox ownership of a major streaming distribution platform alongside its existing digital businesses, as reported by The Verge.

The management changes extend beyond Roku. Pete Distad will add oversight of Tubi and Frndly TV, according to The Hollywood Reporter, which also reported that Sud is leaving for another opportunity.

The next phase is the implementation of Fox's new digital structure, including Ozgen's leadership of Roku and Distad's expanded oversight. Those changes will show how responsibilities are divided following the acquisition, whose executive reshuffle was detailed by The Hollywood Reporter.

The company commitments outlined by the Justice Department are another point to watch. Deadline Hollywood reported their inclusion in the clearance explanation, but the supplied coverage does not specify their terms.