LiveOne Acquires Full Ownership of PodcastOne
Ticker: LVO · Form: 8-K · Filed: Jun 6, 2024 · CIK: 1491419
Sentiment: neutral
Topics: acquisition, joint-venture, podcast
TL;DR
LiveOne just bought out the rest of PodcastOne, now they own it all.
AI Summary
On May 31, 2024, LiveOne, Inc. announced the closing of its previously disclosed acquisition of the remaining 50% equity interest in the joint venture entity that owns the podcast business of PodcastOne. This transaction effectively consolidates full ownership of PodcastOne under LiveOne, Inc. The filing does not disclose the financial terms of this acquisition.
Why It Matters
This move consolidates PodcastOne under LiveOne, potentially streamlining operations and allowing for more integrated strategies between the two entities.
Risk Assessment
Risk Level: medium — The acquisition of full ownership of PodcastOne could have significant financial implications for LiveOne, and the lack of disclosed financial terms introduces uncertainty.
Key Players & Entities
- LiveOne, Inc. (company) — Registrant and acquirer
- PodcastOne (company) — Acquired business
- May 31, 2024 (date) — Closing date of the acquisition
FAQ
What was the exact date the acquisition of the remaining 50% equity interest in the PodcastOne joint venture was closed?
The acquisition was closed on May 31, 2024.
What is the significance of LiveOne acquiring the remaining 50% equity interest in the PodcastOne joint venture?
This transaction results in LiveOne, Inc. consolidating full ownership of the podcast business of PodcastOne.
Does the filing disclose the financial terms of the acquisition?
No, the filing does not disclose the financial terms of the acquisition.
What was LiveOne, Inc.'s former company name?
LiveOne, Inc.'s former company name was LiveXLive Media, Inc., with a name change date of August 8, 2017.
What is LiveOne, Inc.'s principal executive office address?
LiveOne, Inc.'s principal executive offices are located at 269 South Beverly Drive, Suite 1450, Beverly Hills, CA 90212.
Filing Stats: 395 words · 2 min read · ~1 pages · Grade level 10.3 · Accepted 2024-06-06 17:00:51
Key Financial Figures
- $0.001 — nge on which registered Common stock, $0.001 par value per share LVO The NASDAQ
Filing Documents
- ea0207467-8k_liveone.htm (8-K) — 23KB
- 0001213900-24-050413.txt ( ) — 191KB
- lvo-20240531.xsd (EX-101.SCH) — 3KB
- lvo-20240531_lab.xml (EX-101.LAB) — 33KB
- lvo-20240531_pre.xml (EX-101.PRE) — 22KB
- ea0207467-8k_liveone_htm.xml (XML) — 4KB
01 Other
Item 8.01 Other Events. On May 31, 2024, LiveOne, Inc. (the "Company") extended the maturity date of its promissory note issued to East West Bank ("EWB"), underlying the Company's asset-backed loan credit facility with EWB, to September 2, 2024. 1
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: June 6, 2024 By: /s/ Aaron Sullivan Name: Aaron Sullivan Title: Chief Financial Officer 2