Flash (FLZH) signs non-binding term sheet to acquire 51% controlling stake in Bongo
FLZH Flash Sports & Media Holdings Inc
$1.18 -3.28%
차트·분석 보기 → - 1Flash Sports Media Holdings (FLZH) has signed a non-binding term sheet to acquire a 51% controlling stake in Bongo Holdings, a digital media and streaming platform in South Asia.
- 2Bongo generates roughly $10 million in annual revenue, has more than 300 million viewers, and over 73 million social media followers; the consideration is 60% cash and 40% stock, with management earn-out capped at $12 million.
- 3Once the deal closes, Bongo is expected to contribute positive EBITDA and, together with its streaming and distribution infrastructure, accelerate Flash's global expansion and direct-to-consumer distribution.
This 3-line summary is compiled from the report below.
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