A group of congressional Democrats is calling on the U.S. Department of Justice to rigorously scrutinize Fox Corporation’s proposed $22 billion acquisition of Roku, citing risks to consumer choice and potential undue influence over a major streaming platform.
In a letter dated July 16, Sen. Elizabeth Warren (D-Mass.) and Rep. Becca Balint (D-Vt.) led the effort, urging Associate Attorney General Stanley Woodward to ensure the Antitrust Division conducts an impartial review free from political interference. The lawmakers warned that the deal could allow the combined company to favor Fox content across Roku’s platform, which reaches roughly 100 million U.S. households.
Key Concerns Raised by Lawmakers
The Democrats highlighted Roku’s dominant position in connected television (CTV) devices and its free, ad-supported streaming services. They argued that integrating it with Fox’s portfolio—including news, sports, entertainment networks, and the Tubi streamer—would give the merged entity both the ability and incentive to prioritize Fox programming on home screens, search results, and recommendations. This, they said, could sideline competing content, reduce options for consumers, and stifle competition in the rapidly consolidating streaming market.
The letter specifically referenced concerns about the DOJ’s recent approach to mergers, criticizing what the lawmakers described as a pattern of “rubber-stamping” deals and favoring settlements over aggressive enforcement. They pressed for a thorough antitrust analysis under relevant laws to protect competition and American families from higher prices and fewer choices.
Other signatories included Sens. Amy Klobuchar, Chris Van Hollen, and additional House Democrats such as Jerrold Nadler, Jesús “Chuy” García, and Maxwell Alejandro Frost.
Fox announced the acquisition on June 15, 2026, in a cash-and-stock transaction valuing Roku at approximately $22 billion. Under the terms, Roku shareholders would receive $96 in cash and about 0.9693 shares of Fox Class A common stock per Roku share. Fox executives described the move as a “defining moment” that would combine its content strengths with Roku’s distribution reach, data capabilities, and advertising platform to better compete in a streaming-dominated future.
The deal is expected to close in the first half of 2027, subject to regulatory approvals, including antitrust clearance.
Other signatories included Sens. Amy Klobuchar, Chris Van Hollen, and additional House Democrats such as Jerrold Nadler, Jesús “Chuy” García, and Maxwell Alejandro Frost.
Fox announced the acquisition on June 15, 2026, in a cash-and-stock transaction valuing Roku at approximately $22 billion. Under the terms, Roku shareholders would receive $96 in cash and about 0.9693 shares of Fox Class A common stock per Roku share. Fox executives described the move as a “defining moment” that would combine its content strengths with Roku’s distribution reach, data capabilities, and advertising platform to better compete in a streaming-dominated future.
The deal is expected to close in the first half of 2027, subject to regulatory approvals, including antitrust clearance.