Fox chief executive Lachlan Murdoch has completed the biggest deal of his tenure with a $22bn takeover that could transform streaming and, more narrowly, shake up the world of sport.
Fox have bought Roku, the streaming platform with access to over 100 million households, in a cash-and-stock deal announced on Monday, making the combined company the third-biggest player in US TV viewing, behind only YouTube and Disney.
Through Fox, FS1, Fox One, Tubi and other offerings, the company owns the rights for the NFL, MLB, NASCAR and, in a $485m deal, the ongoing 2026 FIFA World Cup. Murdoch, who took full control of his father Rupert’s media empire last year, has suggested the biggest sports properties will stay on its main channels.
But the acquisition of Roku also brings X Games and Formula E into the fold – and something far more eyebrow-raising.
In May, Roku streamed the inaugural Enhanced Games in Las Vegas. Positioned as a rival to traditional athletics, the Enhanced Games allows athletes to use whatever performance-enhancing drugs they like, backed by money from the likes of Peter Thiel and 1789 Capital, the firm co-founded by Donald Trump Jr.
The event has since secured $50m in fresh investment for future editions, and Roku are said to be keen to reprise their coverage in 2027, which now poses an interesting proposition for Fox.
Could Murdoch’s empire give the Enhanced Games the credibility it is craving by bringing it into the mainstream? The IOC, WADA and every major sporting federation would have something to say about that. But the Murdoch family have never shied away from a fight.
