Fox is reshuffling its senior ranks after closing its Roku acquisition. Roku president of media Charlie Collier and Tubi president Anjali Sud are leaving, with Sud heading to another opportunity. Tubi Media Group is now Fox Digital Platforms. Mustafa Ozgen becomes Roku chief executive officer, while Pete Distad, chief executive officer of Fox direct-to-consumer, takes on Tubi and Frndly TV. Mike Bidgoli is promoted to Tubi president. Roku general counsel Chris Handman and AdRise executive vice president Robyn Peterson are also exiting. A memo from Anthony Wood and Paul Cheesebrough said the teams will organise around three core units for the first 100 days.

Fox Corporation completes $22 billion acquisition of Roku. Roku becomes part of the newly-established Fox Digital Platforms business, which includes Tubi, Fox One and Red Seat Ventures. Some well-known Fox and Roku executives will depart. [email protected] - November 6, 2026 Key points. * Fox Corporation has completed its $22 billion acquisition of Roku, combining its television, streaming and digital businesses with Roku's connected television platform. * Former Fox shareholders own approximately 74 percent of the combined company, while former Roku shareholders hold 26 percent. * Fox expects approximately $400 million in annualized cost savings within two years and says Roku will remain an open platform for competing streaming services. Fox Corporation closed on its $22 billion acquisition of streaming developer Roku on Friday, less than six months after announcing the blockbuster transaction to unite one of the industry's most-lucrative platforms for connected TV (CTV) advertising with a global media and entertainment juggernaut. As part of the transaction, Roku is now operated within Fox Digital Platforms, a business unit that also includes Tubi, the streaming service Fox One, podcast-focused Red Seat Ventures and other digital operations. Under the terms of the transaction, Roku shareholders will receive $95.30 in cash and 0.9799 shares of Fox Class A common stock for each Roku share held before the merger. Existing Fox shareholders now own approximately 74 percent of the combined company, while former Roku shareholders hold approximately 26 percent. Roku shares will cease trading on the Nasdaq following the acquisition, the companies said in a press release. Stock price. Roku's CTV platform reaches more than 100 million households, giving Fox additional advertising inventory and distribution capabilities alongside its existing television and streaming properties. Fox Executive Chair and CEO Lachlan Murdoch said maintaining Roku's open distribution model will be a priority for the combined company. Roku will continue supporting competing streaming platforms and content providers rather than becoming an exclusive distribution outlet for Fox programming, he noted. Roku founder Anthony Wood will join Fox's Board of Directors and serve as co-Chairman of Fox Digital Platforms alongside Paul Cheesbrough, who has been appointed co-Chair and CEO of the division. Under the new organizational structure, Mustafa Ozgen will continue leading Roku as CEO, while Pete Distad will oversee Fox's direct-to-consumer businesses, including Tubi, Fox One and Frndly TV. Mike Bidgoli has been promoted to President of Tubi, reporting to Distad. He succeeds Anjali Sud, who is leaving the streaming service for another position outside Fox. Sud will remain involved during the leadership transition, the company said. Andy Karofsky, the co-Founder and CEO of Frndly TV, and Lisa Holme, the Head of Content for The Roku Channel, will also report to Distad. The acquisition expands Fox's presence in connected television advertising, where Roku provides access to streaming audiences through its operating system, advertising technology and The Roku Channel. It also places Roku alongside Tubi, Fox's free, advertising-supported streaming service, and Fox One, its direct-to-consumer subscription platform. Fox said the combined digital businesses will continue operating with an emphasis on consumer choice and distribution partnerships, while the company works to integrate technology, advertising and other operations across its expanded portfolio. More stories. Some links in its articles are affiliate links, and The Desk may earn a small commission on purchases at no cost to you. Affiliate partners never review its stories before publication. Read more about its editorial policies, including its use of affiliate links, by clicking or tapping here. Matthew Keys is the award-winning founder and editor of TheDesk.net, an authoritative voice on broadcast and streaming TV, media and tech. With over ten years of experience, he's a recognized expert in broadcast, streaming, and digital media, with work featured in publications such as StreamTV Insider and Digital Content Next, and past roles at Thomson Reuters and Disney-ABC Television Group.

What FOX (FOX) said on its Q1 earnings call. FOX (NASDAQ:FOX) reported record first-quarter fiscal 2027 revenue and EBITDA, supported by its FIFA Men's World Cup coverage, political advertising, distribution gains and continued growth at streaming service Tubi. Revenue rose 22% from the prior-year period to $4.6 billion, while EBITDA increased 54% to $1.64 billion, both first-quarter records, Executive Chair and Chief Executive Officer Lachlan Murdoch said on the company's earnings call. Advertising revenue climbed 47%, and distribution revenue increased 9%. Net income attributable to stockholders was $943 million, or $2.20 per share, compared with $599 million, or $1.32 per share, a year earlier. On an adjusted basis, net income totaled $1.09 billion and adjusted earnings per share reached $2.54, up 68% from $1.51 in the prior-year quarter. World Cup, sports and political advertising drive results. Chief Financial Officer Steve Tomsic said advertising growth was led by FOX's broadcast of the 2026 FIFA Men's World Cup, higher political advertising revenue and continued Tubi expansion. Total expenses rose 10%, reflecting World Cup-related costs and increased digital-content expenses. Murdoch said the World Cup Final was the most-watched soccer telecast in U.S. history. FOX also benefited from the start of the NFL and college football seasons and Major League Baseball's postseason. He said the five-game World Series between the Milwaukee Brewers and Tampa Bay Rays averaged 12 million viewers, while FOX's "America's Game of the Week" has averaged nearly 25 million viewers so far this NFL season. Political advertising across the company's portfolio has surpassed $350 million, a record for a midterm cycle, according to Murdoch. He said the total includes more than $250 million at local television stations, approximately $50 million of targeted political advertising on Tubi and more than $50 million in national political advertising across sports, news and entertainment. Murdoch cautioned that political advertising can displace base-market advertising at local stations when inventory becomes constrained. Distribution revenue benefits from FOX One. Distribution revenue increased 9%, with cable distribution revenue up 10% on affiliate-renewal pricing, subscriber trends and the contribution from FOX One, the company's direct-to-consumer service. FOX said that, including incremental subscribers from FOX One, it recorded positive subscriber growth over the trailing 12 months. Murdoch said 97% of new FOX One subscribers do not have a cable subscription, indicating that most of the service's subscribers are incremental rather than shifting from traditional pay TV. Subscriber acquisitions in September increased more than 30% from the beginning of the prior year's football season, Murdoch said. He added that subscribers have shown a healthy balance of news and sports consumption. Still, Murdoch said FOX One's subscriber base could be seasonal as sports calendars change. He said the service may not always be able to offset traditional distribution subscriber losses as sports seasons begin and end. Tubi extends growth momentum. Tubi revenue increased 35% year over year, supported by a 23% increase in total viewing time. Murdoch said engagement was driven by Tubi's content library, its World Cup hub, 10 new originals and content from more than 600 creators. Tomsic said Tubi delivered mid-30% revenue growth and increased its year-over-year EBITDA contribution. Murdoch attributed the platform's advertising appeal partly to its audience demographics, describing its users as young, diverse and largely "cordless," making them more difficult for advertisers to reach through traditional television. Management said Tubi's growth has continued into the current quarter. Murdoch said the company expects Tubi eventually to become a business with margins in the 20% range as it matures. Segment performance and capital position. * Cable Network Programming: Revenue rose 8% and EBITDA increased 7%. Advertising revenue grew 8%, primarily due to sports advertising and the World Cup, partly offset by lower digital news advertising revenue. Segment expenses increased 10% due to higher sports programming rights, production costs and news programming costs. * Television: Revenue grew 32% and EBITDA increased 134%. Advertising revenue rose 16%, driven by the World Cup and early midterm political advertising at FOX-owned stations. Distribution revenue increased 4%, while content and other revenue declined 4% because of lower entertainment studio content revenue. FOX generated $503 million in free cash flow during the quarter. Tomsic said the improvement primarily reflected the timing of World Cup working capital: rights payments were made in fiscal 2026, while advertising receivables are being collected through the first half of fiscal 2027. The company ended the quarter with approximately $4.5 billion in cash and $6.6 billion in debt. FOX was inactive with its share repurchase program during the quarter but expects full-year repurchases to remain in its historical range and anticipates resuming buybacks in the current quarter, Tomsic said. Management did not take questions about FOX's pending acquisition of Roku. Murdoch said the companies have received required shareholder and foreign regulatory approvals and are working with the U.S. Department of Justice to obtain Hart-Scott-Rodino clearance. FOX expects to close the transaction as soon as possible. About FOX (NASDAQ:FOX). Fox Corporation (NASDAQ: FOX) is a media and entertainment company formed in 2019 following the acquisition of most of 21st Century Fox's entertainment assets by The Walt Disney Company. Fox operates a portfolio of news, sports, entertainment and local television businesses primarily serving audiences in the United States. The company's FOX News Media segment includes FOX News Channel, FOX Business Network, FOX News Digital and the FOX Nation streaming service. Its FOX Sports business provides live sports programming through the FOX broadcast network, FS1, FS2, FOX Deportes, the Big Ten Network and related digital platforms.