Sky News reports that Audioboom Group is working with advisers to examine the terms of a possible takeover.
Talks are being overseen by J Goodwin & Co, the firm set up by media banker Jonathan Goodwin.
Audioboom, valued at around £100 million after its market cap surged 157% in the past year, is said to have attracted interest from potential bidders, including Fox Corporation and iHeartMedia.
However, no formal talks have been confirmed yet.
Any deal would likely need to be at a significant premium to the current share price to win the support of Audioboom’s board.
Audioboom is a global leader in podcasting – our shows are downloaded 135 million times each month by more than 40 million unique listeners around the world. Audioboom is ranked as the fifth largest podcast publisher in the US by Edison Research.
The board stated that it is in discussions with potential partners regarding commercial collaborations, but has not received any formal takeover proposals. The review will consider alternatives such as joint ventures, acquisitions, selling or splitting parts of the business, returning capital to shareholders, or adjusting strategy.
The company has now entered an “offer period” and advised shareholders to take no action at this stage.
Shareholders are urged to take no action at this time.
As noted above, as part of the Strategic Review the Board is considering a variety of strategic options, including: entering into joint ventures or other forms of commercial partnerships; making further acquisitions; selling or demerging a part of the Company’s group’s business; returning capital to shareholders; changing the Company’s strategy and/or management arrangements; selling the Company’s subsidiaries; and/or selling the entire issued share capital of the Company under a Code-governed transaction.
Audioboom operates internationally, with global partnerships across North America, Europe, Asia and Australia. The platform distributes content via Apple Podcasts, YouTube, Spotify, Pandora, Amazon Music, Google Podcasts, iHeartRadio, Facebook and Twitter as well as a partner’s own websites and mobile apps.
For more information, visit www.audioboom.com.
