Comstock Capital Value Fund on Roku Inc.
Thesis
Fox agreed to acquire Roku for $96.00 in cash plus 0.9693 Fox Class A shares for each Roku share. The transaction values Roku at approximately $22 billion. The position is an event-driven investment whose return depends on shareholder and regulatory approvals and an expected first-half 2027 close.
“The transaction is subject to shareholder, as well as regulatory approvals and is expected to close in the first half of 2027.”
Key risks
- The announced acquisition may not be completed
- Regulatory approvals may delay closing