Fox’s $22 billion plan to buy Roku has hit a new hurdle.
The Justice Department sent Fox and Roku what’s known as a “second request” on Tuesday, asking the companies to turn over more data and documents as it takes a closer look at the deal. That’s a fairly standard step in a major antitrust review, but it also means the DOJ has more questions than it could answer from the companies’ initial filings.
Semafor was first to report the investigation. We reached out to Fox for comment.
While a second request doesn’t mean the DOJ is preparing to block the deal, it does signal that regulators want a much closer look at how it could affect competition and consumers before deciding whether to clear it.
There’s plenty for them to examine as it’s believed to be more than just a typical media acquisition. Fox owns a huge collection of news, sports and entertainment content, as well as Tubi, its free, ad-supported streaming service. Roku, meanwhile, operates one of the biggest platforms sitting between viewers and that content. Its operating system is built into millions of TVs and streaming devices, giving the company significant influence over how consumers discover and watch streaming services.
That raises obvious questions for Roku’s competitors, such as whether a Fox-owned Roku would give Fox’s services more prominent placement, if Fox would use Roku’s data to strengthen its advertising business, and if rival streaming services will be pushed lower on the home screen or otherwise receive less favorable treatment.
Fox CEO Lachlan Murdoch has tried to reassure competitors, saying he expects the two businesses to operate separately.
The investigation also comes as the DOJ has faced criticism over how it handles major mergers, including questions about political influence. For instance, Paramount’s acquisition of Warner Bros. Discovery sparked criticism because CEO David Ellison’s father, billionaire Oracle co-founder Larry Ellison, has close ties to President Trump. Critics argued that the deal’s approval has raised questions about political favoritism.
How the DOJ handles the Fox-Roku deal could be an important test of how closely it reviews politically sensitive mergers. Taking a closer look at Fox and Roku could help show that the DOJ isn’t giving politically connected companies a free pass. That’s especially notable given the Murdochs’ ties to President Trump and the DOJ’s scrutiny over other media deals involving Trump allies.
The deal is expected to close sometime in the first half of 2027.
