Fox Corporation’s planned $22 billion acquisition of Roku is reportedly close to clearing heightened scrutiny by the U.S. Department of Justice. People familiar with the deliberations told Semafor that the department is positioned to let the transaction proceed under a consent decree, though its terms have not been disclosed and regulators could still change their approach. Fox has declined to comment publicly on the review.
The reported progress comes despite efforts by Newsmax majority owner Chris Ruddy to slow or block the transaction, according to Semafor. Ruddy, who has described himself as a confidant of President Donald Trump, has opposed the deal over streaming access for Newsmax assets. He has also had a long-running dispute with Fox owner Rupert Murdoch.
Fox and Roku confirmed they had received a second request for information under the Hart-Scott-Rodino Act after regulators expanded their review in September. The report also follows Fox’s announcement that the acquisition had received international approval. Associate Attorney General Stanley Woodward declined to discuss the specific deal, while saying the department continues to emphasize consumer affordability.
Under the agreement, Roku shareholders would receive $96 in cash and 0.9693 shares of Fox Class A common stock for each share, for an offer value of about $160 per Roku share. The companies expect the acquisition to close in the first half of 2027, subject to final regulatory approvals.
The deal would bring Fox’s broadcasting, news, sports, entertainment, local television and Tubi businesses together with Roku’s connected-TV platform, devices, The Roku Channel and advertising technology. Fox CEO Lachlan Murdoch has said the companies are expected to continue operating separately after the acquisition, while Fox plans to sell advertising across both platforms.
Sources: Cord Cutters News.