LiveXLive Media To Acquire Gramophone Media For Undisclosed Terms – Quick Facts
LiveXLive Media, Inc. (LIVX) announced Friday that it has entered into a binding Letter of Intent (LOI) to acquire Gramophone Media, Inc., an artist and brand development company. The financial terms of the deal were not disclosed.
Gramophone Media comprises boutique agencies specializing in PR, music and technology, A&R, strategic marketing, brand positioning, graphic design, and social media management, including Mavrick Artist Agency.
The proposed acquisition is expected to close prior to the end of June 2021, subject to customary and other closing conditions.
The acquisition is expected to be immediately accretive to earnings and add a new component to the Company’s flywheel of complementary businesses.
The deal complements LiveXLive’s online digital talent search platform, Self Made. The acquisition will add to LiveXLive’s flywheel business model – listen, watch, attend, engage and transact – by providing artists an end-to-end solution to develop and amplify their brand to audiences across LiveXLive’s apps and social media platforms.
As part of the acquisition, Gramophone Media’s team, including President, Founder and sole shareholder, Eshy Gazit, will remain with Gramophone Media after the closing of the deal, as well as Patrick Ermlich Co-founder and CMO. Gramophone Media will operate as a wholly owned subsidiary of LiveXLive.
Hibbett Boosts FY22 EPS Outlook – Quick Facts
While reporting financial results for the first quarter of fiscal 2022 on Friday, athletic-inspired fashion retailer Hibbett Sports Inc. (HIBB) raised its earnings and comparable sales growth guidance for the full-year 2022, given the strong performance in the first quarter. Comparable sales for the first quarter increased 87.3 percent.
For fiscal 2022, the company now projects earnings in a range of $8.50 to $9.00 per share on comparable sales growth in the high-single digits to positive low-double digits range.
Previously, the company expected earnings in a range of $8.50 to $9.00 per share on comparable sales ranging from negative low-single digits to positive low-single digits.
On average, four analysts polled by Thomson Reuters expect the company to report earnings of $5.65 per share for fiscal year 2021. Analysts’ estimates typically exclude special items.
“We will continue to make investments in our store base and in technology across our omni-channel platform to further enhance our customer experience as well as improve internal business processes,” said Mike Longo, President and Chief Executive Officer.
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Endeavor China Nearing Deal For Sports Agency Mailman Group
Endeavor has agreed to acquire China-based sports digital agency Mailman Group, according to a report today in Sports Business.
The deal, said to be worth $60M, has received approval from local regulators and is expected to be confirmed in the next month. Acquisition is being made via Endeavor China, the company’s far-east offshoot which was formed in 2016 as a joint venture with Sequoia Capital, Tencent and Fountainvest Partners.
Mailman Group was founded in 1999 and is headquartered in Shanghai. The company manages the digital presences of a variety of international brands across the sports, entertainment and travel industries. It has north of 200 staff in 50 markets, with offices in London, Shanghai, Singapore and Indonesia. Australian businessman Andrew Collins acquired the company in 2007 and is the current owner. It recently expanded into Southeast Asia and also acquired UK-based agency Seven League, which has major soccer clients in Europe, back in 2018.
Deadline has asked Endeavor for comment.
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Caleres Guided Q2 Adj. EPS In Line With Estimates – Quick Facts
While reporting financial results for the first quarter of fiscal 2022 on Friday, footwear brand Caleres Inc. (CAL) provided adjusted earnings and net sales guidance for the second quarter.
For the second quarter, the company expects adjusted earnings in a range of $0.50 to $0.55 per share on net sales between $625 million and $650 million
On average, analysts polled by Thomson Reuters expect the company to report earnings of $0.54 per share on net sales of $674.3 million for the quarter. Analysts’ estimates typically exclude special items.
“We remain positive about our outlook and expect continued strength at Famous Footwear to be combined with an improving performance in our Brand Portfolio as we progress through the year,” said Diane Sullivan, Chairman and Chief Executive Officer.
The company’s board of directors also declared a regular quarterly cash dividend of $0.07 per share to be paid on June 30, 2021 to shareholders of record as of June 11, 2021.
Mortgage refinancing saved Americans $2,800 annually
Hovnanian CEO explains surge in demand for new homes
Ara Hovnanian discusses gives his post-pandemic expectations for housing on ‘Maria Bartiromo’s Wall Street’
The coronavirus essentially shut down the U.S. economy in 2020.
If a homeowner had the opportunity, going the refinance route was the way to go.
And a year later, mortgage rates are even lower, according to data from Freddie Mac's Primary Mortgage Market Survey.
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"Mortgage rates are down below three percent, continuing to offer many homeowners the potential to refinance and increase their monthly cash flow," said Sam Khater, Freddie Mac’s chief economist. "In fact, homeowners who refinanced their 30-year fixed-rate mortgage in 2020 saved more than $2,800 dollars annually."
In the past week, the average rate on a 30-year fixed-rate mortgage was at 2.95%, down from a year ago when it was 3.15%.
The average 15-year fixed rate is sitting at 2.27%. A year ago at this time, it was 2.62%.
"Substantial opportunity continues to exist today, as nearly $2 trillion in conforming mortgages have the ability to refinance and reduce their interest rate by at least half a percentage point," added Khater.
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Freddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders.