PodcastOne (Nasdaq: PODC) Appoints Wall Street Veteran Jon Merriman to Its Board of Directors

Rhea-AI Summary

PodcastOne (NASDAQ: PODC) has announced the appointment of Jon Merriman to its Board of Directors. Merriman, a veteran with over 35 years in investment banking and financial services, is currently the Chief Business Officer at B. Riley Financial and the Senior Managing Director at B. Riley Securities. PodcastOne President Kit Gray highlighted Merriman's expertise in identifying high-growth companies and his extensive network as key assets for the company's growth. Merriman expressed enthusiasm about joining PodcastOne at a pivotal growth stage, citing the company's impressive market impact and recent B2B partnerships.

Positive

• Jon Merriman's appointment brings over 35 years of financial expertise.
• Merriman has significant experience with high growth companies, which can benefit PodcastOne.
• Recent B2B partnerships have driven rapidly growing monthly recurring revenues for PodcastOne.
• Merriman's extensive network in the investment community can enhance PodcastOne's market visibility.
• PodcastOne is experiencing a pivotal growth stage, signaling potential future success.

Negative

• No specific financial data or projections were provided to quantify the expected impact of Merriman's appointment.
• The press release focuses heavily on Merriman's background without detailing concrete plans for immediate business changes.
• There is no mention of current financial performance or any existing challenges PodcastOne might be facing.

LOS ANGELES, May 31, 2024 (GLOBE NEWSWIRE) -- PodcastOne (NASDAQ: PODC), a leading podcast platform and a subsidiary of LiveOne (NASDAQ: LVO), announced today the appointment of Jon Merriman to its Board of Directors.

“We are thrilled to welcome Wall Street veteran Jon Merriman to our board of directors. His track record of finding undervalued, high growth publicly traded and privately held companies make him ideally suited to add significant value to our existing board of directors. We look forward to leveraging his experience and relationships to further scale our business operations, and our Company’s awareness and recognition within the financial and investor community,” said PodcastOne President and Co-Founder, Kit Gray.

Jon Merriman currently serves as Chief Business Officer for B. Riley Financial (Nasdaq: RILY), a diversified financial services platform, as well as Senior Managing Director, Investment Banking, with B. Riley Securities, the firm's investment banking arm. In his dual roles with B. Riley, Merriman works closely with public and private corporations across multiple industry groups, private equity investors, law firms and IR firms to create solutions to meet his clients’ needs by leveraging the firm's resources.

Merriman specializes in actively advising high growth public and private companies on complex financing, capital markets related and operational issues and has significant experience working with technology, media and entertainment companies. With over 35 years of experience in the investment banking, brokerage, and trading businesses, he has deep experience helping companies across a broad variety of industries with their strategic growth initiatives and in achieving visibility in the public markets through debt and equity transactions.

“I’m excited to join PodcastOne at such a great inflection point in its growth cycle. Kit and his entrepreneurial team have built an impressive creative and distribution franchise in an enormous and rapidly growing market. I’m particularly impressed with its recent B2B partnerships which have driven its rapidly growing monthly recurring revenues. There couldn’t be a better time to join the team and learn, expand awareness of the PodcastOne opportunity, and help a great team grow the business in every aspect,” said Merriman.

About PodcastOne

PodcastOne (Nasdaq: PODC) is a Los Angeles based podcast network founded in 2012 by Kit Gray and Norm Pattiz providing creators and advertisers with a full 360-degree solution in sales, marketing, public relations, production, and distribution delivering over 2.1 billion downloads per year with a community of 250 of the top podcasters, including Adam Carolla, Kaitlyn Bristowe, Jordan Harbinger, LADYGANG, A&E's Cold Case Files and Varnamtown. PodcastOne has built a distribution network reaching over 1 billion listeners a month across all of its own properties, LiveOne (Nasdaq: LVO), Spotify, Apple Podcasts, iHeartRadio, Samsung and over 150 shows exclusively available in Tesla vehicles. PodcastOne is also the parent company of LaunchpadOne, an innovative self-serve platform developed to launch, host, distribute and monetize independent user-generated podcasts. For more information, visit PodcastOne.com and follow us on Facebook, Instagram, YouTube and Twitter at @podcastone. For more investor information, please visit ir.podcastone.com/overview/default.aspx.

About LiveOne
Headquartered in Los Angeles, CA, LiveOne (Nasdaq: LVO) is an award-winning, creator-first, music, entertainment, and technology platform focused on delivering premium experiences and content worldwide through memberships and live and virtual events. LiveOne's wholly-owned subsidiaries include Slacker Radio, PodcastOne (Nasdaq: PODC), PPVOne, CPS, LiveXLive, DayOne Music Publishing, Drumify and Splitmind. LiveOne is available on iOS, Android, Roku, Apple TV, Spotify, Samsung, Amazon Fire, Android TV, and through STIRR’s OTT applications. For more information, visit liveone.com and follow us on Facebook, Instagram, TikTok, YouTube and Twitter at @liveone. For more investor information, please visit ir.liveone.com.

Forward-Looking Statements
All statements other than statements of historical facts contained in this press release are “forward-looking statements,” which may often, but not always, be identified by the use of such words as “may,” “might,” “will,” “will likely result,” “would,” “should,” “estimate,” “plan,” “project,” “forecast,” “intend,” “expect,” “anticipate,” “believe,” “seek,” “continue,” “target” or the negative of such terms or other similar expressions. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including: LiveOne’s reliance on one key customer for a substantial percentage of its revenue; LiveOne’s and PodcastOne’s ability to consummate any proposed financing, acquisition, spin-out, special dividend, merger, distribution or transaction, including the spin-out of LiveOne’s pay-per-view business, the timing of the consummation of any such proposed event, including the risks that a condition to the consummation of any such event would not be satisfied within the expected timeframe or at all, or that the consummation of any proposed financing, acquisition, spin-out, merger, special dividend, distribution or transaction will not occur or whether any such event will enhance shareholder value; PodcastOne’s ability to continue as a going concern; PodcastOne’s ability to attract, maintain and increase the number of its listeners; PodcastOne identifying, acquiring, securing and developing content; LiveOne’s intent to repurchase shares of its and/or PodcastOne’s common stock from time to time under LiveOne’s announced stock repurchase program and the timing, price, and quantity of repurchases, if any, under the program; LiveOne’s ability to maintain compliance with certain financial and other covenants; PodcastOne successfully implementing its growth strategy, including relating to its technology platforms and applications; management’s relationships with industry stakeholders; uncertain and unfavorable outcomes in legal proceedings; changes in economic conditions; competition; risks and uncertainties applicable to the businesses of LiveOne and/or its other subsidiaries; and other risks, uncertainties and factors including, but not limited to, those described in PodcastOne’s Special Financial Report on Form 10-K for the fiscal year ended March 31, 2023, filed with the U.S. Securities and Exchange Commission (the “SEC”) on June 29, 2023, Quarterly Report on Form 10-Q for the quarter year ended December 31, 2023, filed with the SEC on February 13, 2024, and in PodcastOne’s other filings and submissions with the SEC. These forward-looking statements speak only as of the date hereof, and PodcastOne disclaims any obligation to update these statements, except as may be required by law. PodcastOne intends that all forward-looking statements be subject to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995.

Press Contacts:

For PodcastOne
310.246.4600
Susan@Guttmanpr.com

Investor Relations:
Jason Assad
678-570-6791
jwassad@podcastone.com

FAQ

Who has PodcastOne appointed to its Board of Directors?

PodcastOne has appointed Jon Merriman to its Board of Directors.

What is Jon Merriman's background?

Jon Merriman has over 35 years of experience in investment banking, brokerage, and trading businesses. He is currently the Chief Business Officer at B. Riley Financial and the Senior Managing Director at B. Riley Securities.

How might Jon Merriman's appointment impact PodcastOne's growth?

Jon Merriman's extensive experience with high-growth companies and his wide network in the investment community are expected to help PodcastOne scale its operations and increase market visibility.

What recent achievements has PodcastOne highlighted in the press release?

PodcastOne has highlighted its rapidly growing monthly recurring revenues driven by recent B2B partnerships.

What is the ticker symbol for PodcastOne?

The ticker symbol for PodcastOne is PODC.