{"schema_version":"secwatch.filing_event.v1","accession":"0001818383-26-000231","form_type":"8-K","ticker":"MAX","cik":"0001818383","company_name":"MediaAlpha, Inc.","filed_at":"2026-09-09T13:02:26+00:00","discovered_at":"2026-09-09T13:03:00.196537+00:00","generated_at":"2026-09-09T13:03:04.566074+00:00","sec_items":["1.01","9.01"],"event_type":"other_material","sentiment":"positive","materiality_score":0.6,"calibrated_materiality_score":0.6,"confidence":"high","headline":"MediaAlpha buys out PLX's TRA interest for $12M, cutting liability by $10.7M (47% discount)","bullets":["Purchased PLX's interest in Tax Receivables Agreement for $12.0M cash, a 47% discount to $22.7M estimated value.","Estimated total TRA liability drops from $54.7M (June 30, 2026) to ~$32M after deal (Sept 30, 2026).","Transaction approved by independent directors; funded from subsidiary cash via pro rata QLH distribution.","Remaining TRA payments continue with other counterparties; no change of control or early termination."],"urls":{"canonical":"https://secwatch.observer/filing/0001818383-26-000231","json":"https://secwatch.observer/filing/0001818383-26-000231.json","markdown":"https://secwatch.observer/filing/0001818383-26-000231.md","text":"https://secwatch.observer/filing/0001818383-26-000231.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1818383/000181838326000231/0001818383-26-000231-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1818383/000181838326000231/max-20260909.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-09-09T13:03:04.566074+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"}