What Fox and Roku aren’t telling us yet

Fox announced its intention to acquire Roku for $22 billion on an unspecified date, with the deal anticipated to close in 2027. This acquisition, if finalized, would represent the first instance of a major media conglomerate gaining complete ownership of a significant streaming television platform, as Roku's devices are present in 100 million homes globally. The companies have not yet detailed the implications of this merger for Roku's existing business operations and its user base, leaving several key questions unanswered. Among these is the future of Roku's two subscription streaming services, Howdy and Frndly TV. Howdy, which has reportedly surpassed 1 million subscribers according to market data firm Antenna, offers a curated selection of content and has secured recent licensing agreements with major studios like Disney, Sony, and Warner Bros. Discovery. The uncertainty lies in whether Fox will continue to invest in Howdy and if rival companies will permit their content to remain on a platform owned by a competitor. Frndly TV, acquired by Roku for $185 million last year, is a low-cost service primarily featuring reruns and the Hallmark Channel. Its future under Fox is also unclear, particularly regarding Fox's potential interest in becoming a pay-TV distributor and whether this could lead to a bundle incorporating Fox channels.