LivexLive Media, a digital media company, has purchased the holding company of PodcastOne for $18.1M.
“The acquisition will add to and diversify our revenue with a strong advertising component. Once acquired and integrated, we will have a significant opportunity to cross-sell and cross-promote to our respective subscribers, advertisers, and sponsors as well as provide our collective artists and on-air talent with an expanded platform to increase their social media and online presence.”
Robert Ellin, the Chairman and CEO of LiveXLive
The acquisition looks to take advantage of secular tailwinds as consumers turn away from terrestrial radio in favor of streamable and downloadable content.