LiveOne To Spin Off PodcastOne
Commenting on the spin-off announcement, LiveOne CEO, Robert Ellin stated, “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. 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.”
Acquired by LiveOne in 2020, PodcastOne has had more than 2.1 billion downloads a year since its acquisition, across the more than 350 weekly episodes it distributes. It boasts a roster of top podcast programs, including top influencer talent like Adam Carolla, Kaitlyn Bristowe, Jordan Harbinger, The LADYGANG, Kail Lowry, T-Pain, Jay Cutler and Michael Irvin.