LiveXLive To Acquire Gramophone Media For Undisclosed Sum

by Anusuya Lahiri, Benzinga Editor
May 28, 2021 9:23 AM | 1 min read |
  • LiveXLive Media Inc LIVX inked a binding Letter of Intent (LOI) to acquire artist and brand development company Gramophone Media, Inc.
  • The financial terms of the transaction were not disclosed.
  • Gramophone Media's team, including President, Founder and sole shareholder Eshy Gazit, co-founder and CMO Patrick Ermlich, will remain with the company.
  • Gramophone Media will operate as a LiveXLive subsidiary.
  • LiveXLive held $17.6 million in cash and equivalents as of Dec. 31, 2020.
  • Price action: LIVX shares traded lower by 0.41% at $4.88 in the premarket session on the last check Friday.
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