Fox Corp. stock falls as DOJ deepens review of $22 billion Roku deal
Published on 09/10/2026 at 15:55 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
Fox Corp. stock (ISIN US35137L2043) is trading at around USD 63.83 on the Nasdaq as of September 9, 2026, as investors reassess the balance between growth ambitions and regulatory risk around the company’s planned USD 22 billion acquisition of Roku.
DOJ second request raises antitrust risk
The key catalyst for Fox Corp. stock on September 9, 2026 is the U.S. Department of Justice’s decision to issue a so-called second request in its antitrust review of Fox’s proposed USD 22 billion takeover of streaming platform Roku, a move that typically signals a deeper investigation and a longer approval timeline.
According to Investing.com on September 9, 2026, Fox Corp. Class A shares (ticker FOXA) traded at USD 63.83 at 12:38 p.m. Eastern Time, down 2.15 percent intraday as the market digested the DOJ scrutiny.
As Investing.com reported on September 9, 2026, Fox Corp. Class A shares later recovered to USD 63.89 at 12:42 p.m. Eastern Time, representing a 22.1 percent rebound from the post-announcement low but still about 3.0 percent below the closing price that prevailed before the Roku deal was unveiled.
In a separate valuation-focused overview on September 9, 2026, GuruFocus highlighted that Fox Corp. shares were trading at USD 63.84, approximately 4.8 percent above a GF Value estimate of USD 60.94, a modest premium that investors must weigh against the uncertainty of a lengthened antitrust process.
Deal structure and strategic rationale under scrutiny
The planned Roku acquisition is central to Fox Corp.’s push deeper into streaming and connected TV advertising, with the transaction valued at roughly USD 22 billion and expected, by management, to close in the first half of calendar 2027 subject to regulatory approvals and other customary conditions.
According to The Wall Street Journal on September 9, 2026, the Justice Department has requested additional information from Fox Corp. and Roku under the Hart-Scott-Rodino Act, signaling that regulators want a closer look at how the combination could affect competition in the streaming and advertising markets.
Fox Corp. President and Chief Operating Officer John Nallen sought to reassure investors during a presentation at the Goldman Sachs Communacopia plus Technology Conference on September 9, 2026, emphasizing that the DOJ’s second request was entirely expected and that both companies intend to work cooperatively with regulators.
As Headtopics summarized on September 9, 2026, Nallen reiterated that Fox still expects the Roku transaction to close in the first half of 2027 and that plans for a share buyback program in the range of USD 1 billion to USD 1.5 billion remain intact, underlining management’s confidence in the company’s financial strength despite the regulatory headwinds.
Revenue, earnings and leverage support the investment case
Beyond the deal headlines, Fox Corp.’s latest reported financials provide important context for investors judging how much risk the balance sheet can bear and what kind of earnings base will support the enlarged business.
Per a valuation breakdown published by Investing.com on September 9, 2026, Fox Corp.’s last twelve months revenue stood at USD 17.13 billion as of June 30, 2026, while last twelve months EBITDA reached USD 3.88 billion, giving the company meaningful cash generation to help fund strategic initiatives and absorb potential integration costs.
The same overview noted that quarterly debt at the end of the most recent reported period was USD 7.57 billion, a level that indicates Fox already carries substantial leverage but remains within a manageable range relative to its EBITDA base.
At a market capitalization of USD 25.89 billion as of September 9, 2026, again according to Investing.com, investors are effectively valuing the company at roughly 6.7 times last twelve months EBITDA, a multiple that sits modestly above the GF Value estimate and reflects the market’s view that the Roku deal could unlock additional growth if approved.
At the Goldman Sachs Communacopia plus Technology Conference held on September 9, 2026 at 4:45 p.m. Eastern Time, Fox executives also highlighted that the company achieved around 8 percent EBITDA growth in 2026, with total EBITDA reaching approximately USD 3.9 billion, according to a transcript of the session published by Seeking Alpha.
Analyst stance and valuation signals
Analyst sentiment and valuation overlays help to frame whether Fox Corp. stock’s current level leaves room for upside if regulatory concerns ease or if, conversely, the market is already pricing in much of the potential benefit of owning Roku.
According to an overview from MarketBeat dated September 10, 2026, nine investment analysts currently rate Fox Corp. stock as a Buy, eight have issued a Hold rating and one has assigned a Sell rating, resulting in a consensus rating of Hold and an average target price of USD 74.38.
Compared with the intraday level around USD 63.83 to USD 63.89 on September 9, 2026, that average target implies potential upside in the low double-digit percent range if Fox can navigate the antitrust process successfully and deliver on its strategic plans.
In parallel, the valuation note from GuruFocus on September 9, 2026 stressed that Fox Corp. shares, at USD 63.84, were about 4.8 percent above a GF Value benchmark of USD 60.94, an assessment that flags a slight overvaluation and underscores how sensitive the stock may be to any further negative developments in the DOJ review.
Distribution revenue outlook and buyback plans
While much of the near-term story revolves around antitrust, Fox Corp. management continues to emphasize operating growth drivers, particularly in distribution revenue across cable and broadcast channels.
According to a flash update on September 10, 2026 from Futunn News, Fox’s Chief Operating Officer indicated that the company expects distribution revenue to grow across its cable and broadcast businesses in 2027, suggesting that organic growth initiatives remain a priority alongside the transformative Roku deal.
Combined with the USD 1 billion to USD 1.5 billion share buyback range reiterated by John Nallen on September 9, 2026, these plans signal management’s conviction that cash flows from the existing operations are strong enough to support capital returns even as the company takes on additional strategic risk.
Stock level and recent performance
Fox Corp. Class A shares, with ticker FOXA, closed at USD 65.23 on the Nasdaq on September 9, 2026, according to price data summarized by MarketBeat, marking a 0.29 percent decline from the prior close and leaving the stock around 11.2 percent below the level of USD 73.07 at which it started 2026.
Fox Corp. stock key data
- Company: Fox Corp.
- ISIN: US35137L2043
- Ticker: FOXA
- Trading venue: Nasdaq
- Price (as of September 9, 2026, 16:00): 65.23 USD
- Market capitalization: 25.89 billion USD (as of September 9, 2026)
- Sector / Industry: Communication services / Media
- Index membership: S&P 500
