DOJ Deepens Review of Fox’s $22 Billion Roku Takeover
The DOJ has issued a second request on Fox's $22 billion Roku takeover, deepening its review of streaming competition ahead of a first-half 2027 close.
Summary
The Justice Department issued Fox and Roku a second request on September 8, 2026, seeking more data and documents for its antitrust review of Fox’s planned $22 billion Roku acquisition. The standard step does not indicate the DOJ will challenge the deal, but shows the companies’ initial filings left questions about competition and consumer effects. Fox owns news, sports and entertainment content and free, ad-supported streamer Tubi, while Roku’s operating system influences content discovery across millions of TVs and streaming devices. Regulators could examine whether Fox would favor its services, use Roku data to strengthen advertising or disadvantage rival streamers. Fox CEO Lachlan Murdoch expects the businesses to operate separately.
The review will also test the DOJ’s handling of politically sensitive mergers. Approval of Paramount’s Warner Bros. Discovery acquisition drew favoritism criticism because Paramount CEO David Ellison’s father, Oracle co-founder Larry Ellison, has close ties to President Trump. The Murdochs also have Trump ties, increasing scrutiny of whether politically connected companies receive favorable treatment. Fox and Roku expect the deal to close in the first half of 2027.
Positives
- The second request is a standard antitrust procedure and does not mean the DOJ intends to block the $22 billion acquisition.
- Lachlan Murdoch expects Fox and Roku to operate separately, addressing concerns about preferential treatment.
- Deeper DOJ scrutiny could reassure competitors that politically connected media companies are not receiving automatic clearance.
- Fox and Roku still expect the transaction to close in the first half of 2027.
Risks & concerns
- The September 8 second request shows Fox and Roku’s initial filings did not answer all of the DOJ’s competition questions.
- Fox could potentially give Tubi and its other services more prominent placement across Roku devices.
- Roku’s viewer and platform data could strengthen Fox’s advertising business at competitors’ expense.
- Rival streaming services could receive lower home-screen placement or otherwise less favorable treatment.
- The Murdochs’ ties to President Trump expose the review to concerns about political influence and favoritism.