Mergers & Acquisitions ·
Fox Corp supplements proxy for proposed $14B merger with Roku to disclose Morgan Stanley's $30M advisory fee
FOXFox Corp
Fox Corporation filed a supplement to its joint proxy statement/prospectus regarding the proposed acquisition of Roku, Inc. The filing discloses that Fox engaged Morgan Stanley as its financial advisor, agreeing to pay an aggregate fee of $30 million for services related to the transaction. Of this amount, $5 million was payable upon execution of the merger agreement, with the remaining $25 million contingent on consummation. This disclosure follows a putative class action lawsuit filed by a Fox stockholder in Delaware alleging material omissions in the registration statement. Fox denies the allegations but supplemented the proxy to avoid delays or adverse effects on the transaction's completion. The combined entity would merge Roku into Fox as a wholly owned subsidiary following approval at special meetings scheduled for October 14, 2026. Fox Corporation operates in the media and entertainment industry, producing and distributing news, sports, and entertainment content.