LiveOne Acquires Full Ownership of PodcastOne for $12.5M
Ticker: LVO · Form: 8-K · Filed: Apr 18, 2024 · CIK: 1491419
Sentiment: neutral
Topics: acquisition, podcast, joint-venture
Related Tickers: SIRI
TL;DR
LiveOne buys out Sirius XM's stake in PodcastOne for $12.5M, taking full control.
AI Summary
LiveOne, Inc. announced on April 17, 2024, that it has entered into a definitive agreement to acquire the remaining 50% stake in the podcast network "PodcastOne" from its joint venture partner, Sirius XM Radio Inc. This acquisition, valued at $12.5 million, will make PodcastOne a wholly-owned subsidiary of LiveOne.
Why It Matters
This move consolidates LiveOne's control over its podcasting business, potentially streamlining operations and allowing for greater strategic integration of PodcastOne's assets.
Risk Assessment
Risk Level: medium — The acquisition involves a significant cash outlay and integration risks, while also presenting an opportunity for growth and synergy.
Key Numbers
- $12.5M — Acquisition Price (Amount LiveOne is paying for the remaining 50% of PodcastOne.)
- 50% — Ownership Stake (Percentage of PodcastOne LiveOne is acquiring.)
Key Players & Entities
- LiveOne, Inc. (company) — Acquiring company
- PodcastOne (company) — Target company
- Sirius XM Radio Inc. (company) — Selling joint venture partner
- $12.5 million (dollar_amount) — Acquisition price
- April 17, 2024 (date) — Agreement date
FAQ
What is the total value of PodcastOne after this acquisition?
The filing states LiveOne is acquiring the remaining 50% stake for $12.5 million, implying a total valuation of $25 million for PodcastOne if the previous 50% stake was also valued similarly.
When was the agreement to acquire the remaining stake finalized?
The agreement was finalized on April 17, 2024.
Who is the seller of the remaining 50% stake in PodcastOne?
The seller is Sirius XM Radio Inc.
What is the new ownership structure of PodcastOne?
PodcastOne will become a wholly-owned subsidiary of LiveOne, Inc. after the acquisition.
What is the primary business of PodcastOne?
PodcastOne is a podcast network.
Filing Stats: 505 words · 2 min read · ~2 pages · Grade level 10.6 · Accepted 2024-04-18 16:45:10
Key Financial Figures
- $0.001 — nge on which registered Common stock, $0.001 par value per share LVO The NASDAQ
Filing Documents
- ea0204222-8k_liveone.htm (8-K) — 32KB
- 0001213900-24-034144.txt ( ) — 200KB
- lvo-20240417.xsd (EX-101.SCH) — 3KB
- lvo-20240417_lab.xml (EX-101.LAB) — 33KB
- lvo-20240417_pre.xml (EX-101.PRE) — 22KB
- ea0204222-8k_liveone_htm.xml (XML) — 4KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. LIVEONE, INC. Dated: April 18, 2024 By: /s/ Aaron Sullivan Name: Aaron Sullivan Title: Chief Financial Officer 2