The US Justice Department is expanding its antitrust investigation into Fox's proposed $22 billion acquisition of Roku. Regulators plan to issue a "second request" for data and documents, signaling skepticism over how the merger will affect consumer streaming access. The deal would combine Fox's sports and news empire with Roku's 100 million user operating system, creating the third-largest TV viewing player. Competitors fear Fox will favor its own content and Tubi service over rivals.
DOJ antitrust probe expansion
- ▪The United States Department of Justice antitrust division has faced criticism over its handling of high-profile mergers, including the role played by lobbyists in securing approvals.
- ▪The United States Department of Justice is widening its antitrust inquiry into Fox's $22 billion acquisition of streaming platform Roku.
Fox-Roku acquisition deal terms
- ▪The acquisition of Roku would give Fox access to more than 100 million households using the Roku platform, helping Fox build a larger digital audience.
- ▪Fox announced a cash-and-stock deal in June 2026 to acquire Roku for $160 per share, valuing the transaction at $22 billion.
- ▪Under the acquisition agreement, Roku investors would receive $96 in cash and approximately 0.97 Fox Class A shares for each Roku share held.
Combined company market position
- ▪Roku shares fell approximately 2% in extended trading on September 8, 2026, following reports of the widened Department of Justice antitrust probe.
- ▪The combination of Fox's broadcast and sports operations with Roku's streaming reach would make the combined company the third-largest player in television viewing, behind YouTube and Disney.
Content distribution competitive concerns
- ▪Fox Chief Executive Officer Lachlan Murdoch stated his expectation to run Tubi and Roku as separate businesses while selling advertising across both platforms.
- ▪Rivals of Fox express concern that Fox will favor its own content on Roku's dominant connected-television operating system following the acquisition.
- ▪Roku's free, ad-supported streaming channel competes directly for viewers and content with Tubi, a streaming service owned by Fox.
Second request document sharing
- ▪The planned second request by the Department of Justice suggests regulatory skepticism regarding the merger's impact on consumer access to streaming content.
- ▪The United States Department of Justice plans to issue a second request to Fox and Roku, requiring another round of data and document sharing.
Story comments
Loading comments…