Roku said in sale talks, including for possible media tie-up

Roku Inc., the streaming video platform, is in talks to sell itself, people with knowledge of the matter said.

The San Jose, California-based company has been in discussions with at least one US media company about a potential combination, the people said, asking not to be identified because the information is private.

Roku's shares rose as much as 24% in New York trading Friday. They were up 20% to $144.14 at 3:50 p.m., giving the company a market value of more than $21 billion.

No final decisions have been made on a potential sale, and there's no certainty the deliberations will lead to a transaction, the people said. A representative for Roku didn't immediately respond to a request for comment.

The company's streaming devices helped usher in the era of digital home entertainment by allowing consumers to stream content from apps including Netflix and HBO Max from their televisions, essentially transforming any TV into a smart TV. Roku also sells branded TVs, projectors and has its own streaming channel. Its streaming devices are used "by more than half of all US broadband households," Roku said in a statement in April.

Roku makes most of its money selling digital advertising and distributing streaming services, with device sales contributing a much smaller portion of revenue. The platform segment generated $4.1 billion, or 87.5%, of the company's revenue last year, slightly more than the previous year.

Potential buyers could see value in the company's ability to reach and engage with large swaths of viewers as consumers have cut the cord on cable TV. The company said in April that more than 100 million householders are using its streaming platform.

Roku founder and Chief Executive Officer Anthony Wood holds an 11.6% stake in the company and controls the majority of the company's voting power through his ownership of Class B shares, according to its most recent annual regulatory filing that tabulates shares as of last year.

Roku's stock price peaked during the Covid pandemic, hitting an all-time high of $470.50 apiece in July 2021 before falling back below its pre-pandemic price.

-With assistance from Lucas Shaw.

(Updates share gain in third paragraph.)

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This story was originally published June 12, 2026 at 8:09 PM.