By Dean Seal
LiveOne said it is raising the 2024 revenue outlook for its Slacker subsidiary after scrapping plans to merge the radio streaming service with a special purpose acquisition company.
The Los Angeles-based LiveOne said it now expects revenue of $63 million to $66 million from Slacker in fiscal 2024. A representative for LiveOne didn’t immediately respond to a request for the Slacker segment’s previous guidance.
The segment’s adjusted earnings before interest, taxes, depreciation and amortization are now projected to be $17 million to $19 million.
LiveOne and the blank-check company Roth CH Acquisition V said earlier Monday that the exclusivity in their transaction documents has expired. The parties mutually agreed to terminate discussions and the SPAC is now exploring opportunities with other potential merger candidates in order to complete its business combination.
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