Fox Corporation Refinances $22 Billion Roku Deal as Wall Street Maintains Buy Rating
Fox Corporation recently closed its $22 billion takeover of Roku, issued $8.4 billion in bonds to refinance debt, and holds an average Buy rating from brokerages.
Wall Street brokerages maintain an average rating of Buy on Fox Corporation, according to MarketBeat. Out of 10 covering brokerages, six recommend a buy, three rate the stock a strong buy, and one issues a sell. The average 12-month price target stands at $79.50. On Thursday, FOX shares opened at $60.63, having traded between a 52-week low of $44.08 and a high of $68.18.
The analyst assessments follow major corporate shifts after Fox concluded its $22 billion takeover of Roku on November 6, 2026. The transaction added Roku to Fox's newly created FOX Digital Platforms segment alongside Tubi and FOX One. Under the terms of the merger agreement executed on June 14, 2026, Roku common stock was exchanged for 0.9799 shares of FOX Class A Common Stock and $95.30 in cash per share.
To manage its acquisition obligations, Fox launched a seven-tranche bond sale raising $8.4 billion, GuruFocus reported. The offering, which drew roughly $39 billion in orders, aims to pay off an $8.4 billion bridge loan utilized for the buyout. Fox also obtained $2 billion through a term loan. S&P Global Ratings maintains an investment-grade BBB credit rating with a stable outlook for the company, while management projects $400 million in annual cost reductions within two years.
Following the takeover, Roku confirmed it is winding down sales of smart home hardware to concentrate on its core streaming platform, while continuing support for existing devices, according to MLQ.ai. Roku previously posted third-quarter hardware losses that expanded to $48.6 million from $22.9 million a year earlier, driven by memory expenses. The acquisition gives Fox exposure to more than 100 million streaming households.
The media company also delivered strong financial results for its latest quarter, reported on November 2nd. Fox posted earnings per share of $2.54, topping the consensus estimate of $2.06. Quarterly revenue reached $4.57 billion, exceeding projections of $4.32 billion. Analyst Philip Cusick at JPMorgan recently increased his price target on the stock to $83, while Deutsche Bank lifted its target to $82.