FOX Corporation is acquiring Roku in a cash-and-stock deal valued at roughly $22 billion, the two companies announced Monday morning. The agreement pairs FOX’s live sports and news portfolio with the largest connected-TV platform in the United States, and it has direct ripple effects for anyone who streams pro wrestling.
Under the terms, FOX pays $160 per share for Roku, split between $96 in cash and 0.9693 shares of FOX Class A common stock. The price is an 11.4% premium over Roku’s previous close. Both boards have approved the transaction, which is expected to close in the first half of 2027 pending shareholder and regulatory sign-off.
FOX CEO Lachlan Murdoch called the move a “defining moment” for the company on a Monday analyst call, framing it as the next step after FOX’s 2020 acquisition of the free streaming service Tubi. Roku founder and CEO Anthony Wood will join FOX’s board and keep a role in the combined company, which FOX says would become the third-largest player in U.S. television by share of viewing.
For wrestling fans, the deal matters because Roku has quietly become a real home for the genre, and a FOX-owned Roku changes who controls that pipeline.
The Wrestling On Roku Right Now
The clearest connection runs through Tubi, which FOX already owns. WWE’s developmental brand Evolve streams on Tubi and YouTube, meaning FOX would control both a WWE streaming outlet and a major platform fans use to reach it.
Beyond that, Roku hosts a deep bench of wrestling. New Japan Pro-Wrestling’s NJPW World app lives in the Roku Channel Store with live events and a large archive. IWTV (IndependentWrestling.tv) offers indie wrestling on demand through its own Roku app. Free ad-supported channels round it out: Wrestling Central on Roku channel 208 carries NWA and WOW programming, while the Wrestling TV Channel runs classic matches from the 1970s through today.
The major promotions reach Roku through live-TV and streaming apps rather than dedicated services. WWE SmackDown airs on USA Network and is accessible via Sling TV, while WWE’s premium live events and Raw stream on Netflix, which continues expanding WWE’s reach into new international markets. AEW programming streams through Max and other live-TV apps. WWE NXT recently moved to The CW and also landed on the ESPN App as part of a new CW streaming partnership, with The CW’s app available on Roku.
Why The Ownership Shift Matters
FOX’s wrestling tie today runs through Tubi, not its broadcast network. The company moved SmackDown to USA Network in 2024, but its 2020 Tubi acquisition has since grown into a streaming business that now hosts WWE’s Evolve brand. Buying Roku would stack the country’s biggest connected-TV platform on top of that.
The leverage is in the data. Roku has a direct relationship with more than 100 million streaming households, and that first-party data is a major reason FOX is paying a premium. Owning the platform plus the viewing data gives FOX more control over how live content, wrestling included, gets surfaced and monetized.
Nothing changes for viewers immediately. The deal still needs regulatory approval and is not expected to close until 2027. But if it goes through, the company shaping what gets promoted on your Roku home screen will be one with a growing stake in WWE streaming through Tubi.