Fox Corp. COO John Nallen Says Roku Deal On Track To Close Despite “Entirely Expected” DOJ Scrutiny

Fox Corp. is currently undergoing scrutiny from the U.S. Department of Justice (DOJ) regarding its proposed $22 billion acquisition of the streaming platform Roku. On September 8, the DOJ requested additional information and documentary material from both Fox and Roku, which is a standard procedure referred to as a “second request” in regulatory reviews. This request is part of the DOJ's review process of the deal, which is common for large mergers and acquisitions, particularly in the tech and media sectors. Despite the DOJ's request for further information, Fox Corp. President and Chief Operating Officer John Nallen expressed confidence that the acquisition is still on track to close. Speaking at the Goldman Sachs Communacopia conference in San Francisco, Nallen described the DOJ's scrutiny as “entirely expected.” He indicated that the company had filed a regulatory document earlier that day, acknowledging the request from the DOJ. The acquisition of Roku is significant for Fox Corp., as it aims to expand its presence in the streaming market. The scrutiny from the DOJ highlights the regulatory landscape that companies must navigate when pursuing large-scale mergers. Nallen's remarks suggest that Fox is prepared to comply with the regulatory requirements and maintain its timeline for the deal's completion. Overall, Fox Corp. is actively engaging with the DOJ's review process while remaining optimistic about finalizing the acquisition of Roku, despite the additional scrutiny. The outcome of this regulatory review will be closely monitored as it could have implications for competition and market dynamics in the streaming industry.