Fox Says DOJ Requests More Documents in Review of $22 Billion Roku Deal ‘as Expected’ — SkimNews
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- Fox Corp. disclosed in an SEC filing on Wednesday that both Fox and Roku received a "second request" for additional information and documentary material from the DOJ on Tuesday, Sept. 8, as part of the antitrust review of their proposed merger.
- Fox characterized the DOJ's request as "as expected" and said both companies "will continue to work cooperatively with the DOJ in its review."
- The second request extends the Hart-Scott-Rodino waiting period by 30 days after the parties have "substantially replied" to the information request, during which time Fox and Roku are barred from closing the deal.
- Fox still expects the $22 billion Roku acquisition to be completed in the first half of calendar year 2027, contingent on DOJ and other regulatory clearance as well as shareholder approval from both companies.
- Fox Corp. announced the deal in June at $160 per share, combining roughly $14.2 billion in cash with the remainder paid in Fox Class A common stock, a transaction CEO Lachlan Murdoch said "will transform the scope of our company into high-growth verticals."
- Fox committed to continuing to operate Roku as an "open, partner-friendly platform," with Roku founder and CEO Anthony Wood retaining an ongoing role at the combined company once the deal closes.
- The merger would dramatically enlarge Fox's streaming footprint, instantly making the TV-centric company a much bigger player in digital video advertising and premium subscription VOD distribution.
Why it matters: The DOJ's second request triggers an automatic 30-day extension to the antitrust waiting period, pushing the earliest close toward Fox's already-stated timeline of the first half of 2027 and keeping the $22 billion tie-up — a combination of roughly $14.2 billion in cash and Fox stock — contingent on regulatory and shareholder sign-off. For Fox, clearance is the linchpin to instantly scaling into digital video advertising and premium subscription VOD, markets where Roku already operates as a major distribution platform.
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