The acquisition will add to and diversify our revenue with a strong advertising component.
“We’re excited to expand our business into the fast-growing podcast category, complementing our music platform of streaming audio, on-demand video and live event performances. Drew, Heather and Terry Dubrow, Chael Sonnen, Kaitlyn Bristowe, LadyGang, Mike Tyson, Rich Eisen, Spencer and Heidi Pratt, Autumn Calabrese, Demi Burnett, Gals on the Go, and many more. PodcastOne’s library of over 300 podcasts includes shows from Adam Carolla, A&E’s Cold Case Files, Steve Austin, Shaquille O’Neal, Tip “T.I.” Harris, Dr. PodcastOne generates over 2.1 billion downloads annually and produces over 350 episodes per week. The proposed acquisition is expected to close by June 2020, subject to certain closing conditions. The transaction is valued at $18.1 million based on LiveXLive’s closing price on May 7, 2020. (NASDAQ: LIVX) (“LiveXLive”), a global digital media company focused on live entertainment, announced today that it has signed a definitive agreement to acquire Courtside Group, Inc., the owner and operator of PodcastOne, a leading subscription and advertiser-supported podcast network home to popular and star-studded podcasts across top genres including sports, comedy, celebrity culture and entertainment, in an all stock deal. Los Angeles CA, USA- LiveXLive Media, Inc. (Fill this in now you won’t lose your place!)
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