It’s official: Roku is now a part of Fox. On Friday, Fox Corporation announced that it had completed its acquisition of the streaming giant, bringing one of the world’s most popular TV platforms under the same corporate umbrella as Tubi, Fox One, Fox Nation, and Fox’s extensive portfolio of sports, news, and entertainment programming. The approximately $22 billion deal gives Fox control of Roku’s streaming operating system, smart TVs, streaming devices, and The Roku Channel, significantly expanding the media company’s reach into living rooms. However, despite the change in ownership, Fox is emphasizing continuity for Roku customers, promising to preserve the open streaming platform that has made the company so popular.

The acquisition comes nearly five months after the companies first announced the agreement in June. Shareholders from both companies approved the transaction in October, and although the Department of Justice subjected the deal to additional antitrust scrutiny, Fox has now completed the purchase months ahead of the companies’ original target of the first half of 2027.

Despite the acquisition, the biggest change for Roku users — at least for the time being — is who owns the company, rather than how its products work. In announcing the completion of the acquisition, Fox emphasized that Roku will continue operating as an open streaming platform, allowing customers to access services from across the industry rather than favoring only those owned by Fox.

“Beginning today, our top priority for the combined company is to continue to relentlessly serve audiences and partners, while reinforcing the openness and choice that is the essence of the Roku platform,” Fox CEO Lachlan Murdoch said. “Our shared entrepreneurial passion and clear conviction toward building the future together with our new Roku colleagues gives us great confidence in the opportunities ahead of us.”

That commitment is particularly important given Roku’s position as one of the largest streaming platforms in the world, reaching more than 100 million households globally. Its devices and operating system provide access to competing streaming services, including Netflix, Disney+, Hulu, Prime Video, and Peacock, and Fox says it intends to preserve the broad selection that has helped Roku become so popular.

However, it would be at least a little surprising if Fox-owned streamers, channels, and titles did not begin getting better placement in Roku menus and advertising. Additionally, Fox will now own two major free, ad-supported streaming services in Tubi and The Roku Channel, and could eventually find ways to integrate their programming, advertising, and technology. The company has not announced plans to combine the two platforms, but mergers of this size and scope often lead to efforts to eliminate redundancies. So, even if the two platforms remain separate, it would not be surprising to see Fox consolidate some of their behind-the-scenes technology and operations.

These possibilities have raised concerns about whether Fox’s ownership could ultimately diminish the Roku experience, particularly if the company begins prioritizing its own services over competitors. For now, however, Fox and Roku executives are emphasizing continuity rather than sweeping changes.

As part of the acquisition, Roku founder Anthony Wood will join Fox’s board of directors and serve as co-chair of the newly created Fox Digital Platforms division. The division will bring together Roku, Tubi, Fox One, and other digital businesses, with Fox executive Paul Cheesbrough serving as co-chair and CEO.

“We started Roku more than two decades ago to give people a better way to watch TV, and that mission doesn’t change today,” Wood said. “What does change is our reach and resources. FOX has a deep respect for Roku’s culture and wholly shares our commitment to staying open to every content partner. Our teams will keep building and innovating as they always have, now with the support and capabilities of FOX behind us. I’m proud of what Roku’s employees have built, and I’m excited about what comes next.”

The acquisition comes at a time when Roku’s business has been performing particularly well. Earlier this week, the company reported record third-quarter profits of $183 million, with revenue climbing 24% year-over-year to $1.5 billion. The Roku Channel also maintained its position as the second-most-watched app on Roku devices, highlighting the value of the streaming service not only as a way to engage consumers, but also as a way to generate advertising revenue.

At least initially, Fox is promising that the Roku platform will remain open to everyone. Whether that commitment holds as the two companies integrate their operations will be one of the biggest things for streaming customers to watch in the months and years ahead.

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