{"schema_version":"secwatch.filing_event.v1","accession":"0001140361-26-038812","form_type":"8-K","ticker":"ROKU","cik":"0001428439","company_name":"ROKU, INC","filed_at":"2026-10-06T20:40:34+00:00","discovered_at":"2026-10-06T20:41:00.193738+00:00","generated_at":"2026-10-12T16:12:17.200455+00:00","sec_items":["8.01"],"event_type":"m_and_a","sentiment":"neutral","materiality_score":0.3,"calibrated_materiality_score":0.3,"confidence":"high","headline":"Roku supplements Fox merger proxy after stockholder demand letters; Qatalyst DCF used 12.5-18% discount rates","bullets":["Roku received stockholder demand letters alleging omissions or misstatements in the Fox merger joint proxy/prospectus; Roku denies the claims but voluntarily filed supplemental disclosures.","Qatalyst standalone Roku DCF used 12.5%-18.0% discount rates; Roku projected cash of approximately $2.43 billion as of June 30, 2026 per management.","Pro forma combined company DCF used 9.0%-13.0% discount rates; estimated combined net debt of about negative $630 million (net cash) as of June 30, 2026, excluding the Mergers.","New comparable multiples: Netflix 20.4x CY2026E EBITDA ($346.2B EV), Spotify 25.1x ($89.3B), AppLovin 24.3x, Alphabet 19.2x ($4,432.2B), Meta 10.3x, Snap 8.2x.","Transaction bonuses capped at $13M aggregate, $2M per individual reporting to the CEO and $600K for others; CEO Anthony Wood receives neither transaction nor retention bonus."],"urls":{"canonical":"https://secwatch.observer/filing/0001140361-26-038812","json":"https://secwatch.observer/filing/0001140361-26-038812.json","markdown":"https://secwatch.observer/filing/0001140361-26-038812.md","text":"https://secwatch.observer/filing/0001140361-26-038812.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1428439/000114036126038812/0001140361-26-038812-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1428439/000114036126038812/ef20083345_8k.htm"},"model":{"generated_by":"deepseek-v4.1-flash:cloud@v2","generated_at":"2026-10-12T16:12:17.200455+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}