PodcastOne produces more than 350 ad-supported podcast episodes per week and generates over 2 billion downloads on an annual basis. The proposed acquisition is expected to close by June 2020, subject to certain closing conditions.
Under the deal, LiveXLive - which to date has been a money-losing venture and last month received relief funding under the U.S.’s CARES Act - is acquiring Courtside Group, owner and operator of PodcastOne, in stock worth $18.1 million based on LiveXLive’s closing share price on May 7. Music livestreamer LiveXLive is diversifying its business with the acquisition of PodcastOne, a podcast network that hosts shows by Adam Carolla, “Stone Cold” Steve Austin, Shaquille O’Neal and others, in an all-stock deal valued at about $18 million.
0 kommentar(er)
