Fox’s $22 billion acquisition of Roku has encountered a significant regulatory obstacle as the U.S. Department of Justice (DOJ) issued a "second request" for additional information from both companies. This move indicates that the DOJ is conducting a deeper antitrust review beyond the initial filings to better understand potential competitive impacts before approving the deal. While a second request is not unusual in large mergers and does not necessarily imply the deal will be blocked, it signals heightened scrutiny of the transaction.

The merger combines Fox’s extensive portfolio—including news, sports, entertainment content, and its ad-supported streaming platform Tubi—with Roku’s dominant streaming operating system, which is integrated into millions of TVs and devices. This raises concerns among competitors and regulators about whether Fox could leverage Roku’s platform to favor its own services, use Roku’s consumer data to enhance its advertising business, or push rival streaming services to less favorable positions on Roku's interface. Fox CEO Lachlan Murdoch has publicly committed to keeping the two businesses separate to address these worries.

The DOJ’s investigation is occurring against a backdrop of criticism over its handling of major media mergers, especially those involving politically connected figures. The approval process for Paramount’s acquisition of Warner Bros. Discovery drew scrutiny due to connections between executives and former President Trump. The Fox-Roku deal also involves individuals with ties to Trump, making this case a potential test of the DOJ’s impartiality and rigor in evaluating high-profile mergers involving politically sensitive parties.

The transaction is expected to close in the first half of 2027, but this additional review may extend the timeline. The DOJ’s detailed examination will focus on whether the merger could reduce competition or harm consumers by enabling Fox to wield outsized control over streaming content distribution. The outcome will be closely watched as a measure of how rigorously antitrust authorities are prepared to oversee influential media and tech mergers in today’s converging digital marketplace.