PodcastOne (PODC) a subsidiary of LiveOne (LVO), announced that it has officially changed its name from Courtside Group, Inc. to PodcastOne, Inc. to match its “strategic vision to become the leading destination for the best and most popular podcasts across many top genres.” LiveOne owns approximately 81% of PodcastOne. PodcastOne began trading on Nasdaq under its new name at the open of the market on Tuesday, September 26. PodcastOne notes it recently converted the remaining unsecured convertible notes in the aggregate principal amount of $5.8M at $3 per share. Following this transaction, the company is now debt free. PodcastOne’s President and co-Founder, Kit Gray, commented, “The corporate name change to PodcastOne, Inc. provides a true characterization of our company as one of the ten largest podcast publishers in the U.S., ranked ahead of media giants Paramount, CNN and Fox.” PodcastOne reiterates its pro forma revenue guidance of $47M-$51M with Operating Adjusted EBITDA of $4M-$5M, the company added.
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