DOJ opens deeper antitrust review of Fox’s $22 billion Roku deal
The US Department of Justice has issued Fox and Roku a second request for data and documents in its review of Fox’s proposed $22 billion acquisition of Roku. The request, reported first by Semafor, calls for further material beyond the companies’ initial merger filings and puts the transaction under a more detailed antitrust examination.
A second request is a standard procedural step in large merger reviews, but it indicates that the DOJ requires additional information before deciding whether to clear the deal. It does not itself mean the department intends to block the acquisition. Fox has said that the transaction is expected to close in the first half of 2027.
A content owner would acquire a major TV platform
The proposed combination brings together Fox’s news, sports and entertainment portfolio, as well as its free ad-supported streaming service Tubi, with Roku’s television operating system and streaming-device platform. Roku’s software is built into millions of TVs and devices, placing it between viewers and the services they choose to discover and watch.
The transaction outlined in Fox Roku connected TV platform acquisition combines media, sports and a connected-TV platform in a way that makes distribution and interface decisions central to the review. Regulators can assess how the combined business would handle competitors that rely on Roku for consumer discovery and access.
Questions include whether Fox-owned services could obtain more prominent placement on Roku’s home screen, whether competing streaming services could receive less favourable treatment, and whether Roku data could strengthen Fox’s advertising business. These issues go beyond the ownership of programmes because the platform influences how viewers find streaming applications.
Commitment to separate operations and wider merger scrutiny
Fox chief executive Lachlan Murdoch has sought to reassure rivals by saying he expects the two businesses to operate separately. The DOJ’s request gives the agency an opportunity to examine the proposed structure and the competitive effects raised by the combination before reaching a decision.
The review is also taking place amid criticism of the DOJ’s treatment of major mergers and questions about political influence in high-profile transactions. Paramount’s acquisition of Warner Bros. Discovery drew criticism linked to Oracle co-founder Larry Ellison’s ties to President Trump; critics questioned whether the approval suggested political favouritism.
How the department proceeds with Fox and Roku may therefore be watched as closely for the depth of its review as for its eventual outcome. For streaming services, advertisers and device partners, the practical implication is to track any commitments on service placement, access to platform data and the operational separation of Fox and Roku while the DOJ completes its review.