LiveXLive to Review Strategic Opportunities to Grow the Company’s Business
LiveXLive Media, a global platform for livestream and on-demand audio, video and podcast content in music, comedy and pop culture, and owner of PodcastOne, Slacker Radio and React Presents, announced that it has engaged J.P. Morgan as its financial advisor to review potential strategic transactions, including acquisitions, strategic partnerships and other opportunities to grow the Company’s business.
Robert Ellin, LiveXLive’s Chairman and CEO, commented, “We are enthusiastic about the prospects of LiveXLive. Our operating performance and consumer reach are showing impressive growth across virtually all meaningful performance metrics. We continue to drive compelling original content across both LiveXLive and its wholly owned subsidiary, PodcastOne, including live pay-per-view events, and new artist-driven format and tentpoles, like The Lockdown Awards (over 10 million livestream views).”
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“The opportunity is expanding to monetize the Company’s content multiple times and in multiple ways across numerous platforms, including carriers, automobiles, and OTT. We continue to see immense opportunity for LiveXLive to leverage its audience, platform and artist and entertainment industry relationships and help drive further growth through our flywheel business model.”
Mr. Ellin concluded, “We are continuing to look for transactions that are consistent with our acquisition strategy and our Board’s commitment to enhancing shareholder value.”
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There can be no assurance that LiveXLive’s efforts will result in a specific transaction or any particular outcome or its timing. The Company does not intend to make any future announcements concerning this process or developments unless and until the Board has approved a specific transaction or the Company has otherwise determined that further disclosure is appropriate or required by law.
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