Noticias y eventos de Podcastone Inc (PODC)PODCPodcastone Inc

LiveOne Extinguishes $8.5M Debt, Expects $1.5M Interest Savings

LiveOne has extinguished $8.5M in JGB debt, including $5.5M in October, reducing the balance to $9M. The Company expects $1.5M in annual interest savings and is targeting an additional $2-$3M in expense cuts. LiveOne is preparing to launch with a B2B partner that has more than 50 million monthly paying members. The Company is also expanding AI monetization and distribution and expects to announce a new president before year-end. PodcastOne's Special Committee continues to evaluate strategic alternatives, including M&A, a strategic investment, a partnership or a potential sale.

PodcastOne Considering Acquisition Proposals

PodcastOne has received inbound interest from multiple strategic parties regarding a potential acquisition of the Company and is in discussions with each of them. In response, PodcastOne's Board of Directors has formed a special committee of independent directors to oversee the process and intends to retain an investment banker to assist the committee in evaluating these and other alternatives to maximize shareholders value. The Board believes the Company's current stock price does not reflect the value of its business. PodcastOne recently ranked as the #6 U.S. podcast publisher according to Podtrac, with more than 1 billion monthly impressions, and a diversified base of advertising and data-driven revenue. In the Board's view, the market has not fully recognized the value of PodcastOne's scale, audience reach and proprietary data, including what they may be worth to a strategic owner. The special committee of the Board will oversee the process, and PodcastOne expects to select a financial advisor in the near term. PodcastOne will continue its discussions with interested parties while the process is structured and will evaluate all proposals with a view to maximizing shareholders value. There can be no assurance that this process will result in a transaction, and the Company does not intend to comment further unless and until it determines disclosure is appropriate or required.

PodcastOne Signs Multi-Year Partnership with NMPD

PodcastOne (PODC), a subsidiary of LiveOne (LVO), announced a multi-year distribution, content and marketing partnership with National Military Podcast Day, NMPD, the annual celebration of the service members and veterans who have taken to the microphone to tell their own stories. The partnership launches with today's live-stream marathon, led by NMPD founder Colonel Riccoh Player, United States Marine.