With the acquisition of the assets of a US-based digital audio company
Brightcom Group today announced that it has signed a Letter of Intent (LOI) to acquire all assets of a US-based digital audio company that owns and operates multiple assets. The Company is an integrated digital platform offering multiple scheduled radio stations, various digital brands and digital marketing services in numerous markets in the United States.
This acquisition is immediately EPS accretive by adding $45 million to Brightcom’s revenue and $15 million to its EBIDTA. Synergies between Brightcom’s current business and new assets will add to the numbers above.
The acquisition value of the assets, including its net cash, is set at $102.5 million, including $95 million in cash and $7.5 million in BCG stock.
This decision will mark the Brightcom Group’s significant entry into this rapidly growing segment of digital audio advertising. Digital audio advertising includes all advertising revenue generated from pre and in-stream audio advertisements that appear in music (music also contains various radio services) and podcast streaming services. This revenue would include free ad-supported versions of premium subscription services or ad-supported services.
Powered by Capital Market – Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Dear reader,
Business Standard has always endeavored to provide up-to-date information and commentary on developments that matter to you and that have wider political and economic implications for the country and the world. Your constant encouragement and feedback on how to improve our offering has only strengthened our resolve and commitment to these ideals. Even in these challenging times stemming from Covid-19, we remain committed to keeping you informed and updated with credible news, authoritative opinions and incisive commentary on relevant topical issues.
However, we have a request.
As we battle the economic impact of the pandemic, we need your support even more so that we can continue to bring you more great content. Our subscription model has received an encouraging response from many of you who have subscribed to our online content. More subscriptions to our online content can only help us achieve the goals of bringing you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practice the journalism we are committed to.
Support quality journalism and subscribe to Business Standard.
digital editor
Comments are closed.