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PodcastOne Spinning Off

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LiveOne has announced plans to spin-out its wholly owned subsidiary, PodcastOne, as a separate public company to be listed on a national exchange. Part of the plan is to dividend a portion of PodcastOne’s common equity to LiveOne’s more than 15,000 stockholders.

“The goal of both our management team and board of directors is to maximize stockholder value. PodcastOne has been a tremendous addition to LiveOne since our acquisition in 2020, and we feel strongly that the market value of our stock dramatically undervalues the sum of our parts, which includes our PodcastOne subsidiary," said Robert Ellin, LiveOne CEO. “Upon the successful completion of the spin out, we believe PodcastOne will be the only major pure play podcast company trading on a national exchange.”

“The podcasting business has exploded over the past five years and PodcastOne is one of the largest independent podcast companies in the world. The company is one of only two independent podcasting publishers in the top 10 of Podtrac’s list of Top Publishers,” said Kit Gray, PodcastOne President. “We believe that by trading as a separate public company, PodcastOne will have the opportunity to access the public capital markets as well as be better positioned to both acquire podcast platforms and attract significant podcast talent.”

PodcastOne expects record quarterly revenue in excess of $9 Million in the quarter ended June 30, 2022.

The plan is anticipated to be completed by year-end, in each case subject to obtaining applicable approvals and consents and complying with applicable rules and regulations and public market trading and listing requirements.

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