{"id":397129,"date":"2020-12-10T07:03:37","date_gmt":"2020-12-10T12:03:37","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=397129"},"modified":"2020-12-10T07:03:37","modified_gmt":"2020-12-10T12:03:37","slug":"livexlive-media-announces-two-million-shares-stock-repurchase-program","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/livexlive-media-announces-two-million-shares-stock-repurchase-program\/","title":{"rendered":"LiveXLive Media Announces Two Million Shares Stock Repurchase Program"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">LOS ANGELES<\/span>, Dec. 10,\u00a02020 \/PRNewswire\/ &#8212;\u00a0<a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3008695-1&amp;h=2749150028&amp;u=https%3A%2F%2Fwww.livexlive.com%2F&amp;a=LiveXLive+Media\" rel=\"nofollow noopener noreferrer\">LiveXLive Media<\/a>\u00a0(Nasdaq: LIVX) (&#8220;LiveXLive&#8221;),\u00a0a global platform for livestream and on-demand audio, video and podcast content in music, comedy and pop culture, and owner of\u00a0<u><a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3008695-1&amp;h=354913370&amp;u=https%3A%2F%2Fc212.net%2Fc%2Flink%2F%3Ft%3D0%26l%3Den%26o%3D2963815-1%26h%3D4238804873%26u%3Dhttps%253A%252F%252Fwww.podcastone.com%252F%26a%3DPodcastOne&amp;a=PodcastOne\" rel=\"nofollow noopener noreferrer\">PodcastOne<\/a><\/u>,\u00a0announced today\u00a0that its board of directors (the &#8220;Board&#8221;) has authorized the repurchase up to two million shares of LiveXLive&#8217;s outstanding common stock from time to time (the &#8220;Program&#8221;). <\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder1\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/337602\/Loton_Corp_LiveXLive_Logo.html\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/337602\/Loton_Corp_LiveXLive_Logo.jpg\" title=\"LiveXLive (PRNewsFoto\/Loton, Corp.) (PRNewsfoto\/LiveXLive Media, Inc.)\" alt=\"LiveXLive (PRNewsFoto\/Loton, Corp.) (PRNewsfoto\/LiveXLive Media, Inc.)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<p>\n        <span class=\"xn-person\">Robert Ellin<\/span>, LiveXLive&#8217;s CEO and Chairman, commented, &#8220;I am pleased to announce board approval for the new stock repurchase program given the current price of our stock, which we do not believe reflects the underlying value of LiveXLive. We remain enthusiastic about the prospects of LiveXLive and are focused on our commitment to maximize shareholder value.&#8221;<\/p>\n<p>The timing, price, and quantity of purchases under the Program will be at the discretion of LiveXLive&#8217;s management and will depend upon a variety of factors including share price, general and business market conditions, compliance with applicable laws and regulations, corporate and regulatory requirements, and alternative uses of capital.\u00a0Repurchases may also be made under a Rule 10b5-1 plan, which would permit shares to be repurchased when LiveXLive might otherwise be precluded from doing so under insider trading laws. The Program may be expanded, suspended, or discontinued by the Board at any time.\u00a0There is no guarantee as to the exact number of shares, if any, that will be repurchased by LiveXLive, and LiveXLive may discontinue purchases at any time that management determines additional purchases are not warranted. The Plan will be funded from current available working capital.\u00a0<\/p>\n<p>LiveXLive has the first talent-centric platform focused on superfans and building long-term franchises in on-demand audio and video, podcasting, vodcasting, OTT linear channels, pay-per-view (&#8220;PPV&#8221;), and livestreaming. Its model includes multiple monetization paths including subscription, advertising, sponsorship, merchandise sales, licensing,\u00a0and ticketing. LiveXLive recently raised revenue guidance for its 2021 fiscal year based on strength in its core businesses.<\/p>\n<p>LiveXLive has become a go-to platform for livestreaming events that combine music with pop culture of podcasting, sports, arts, fashion, culinary and comedy. So far in calendar year 2020, LiveXLive content has been viewed over 95 million times. From emerging to established artists, LiveXLive has streamed a variety of artists and celebrities in 2020 alone, including Billie Eilish, Kygo, <span class=\"xn-person\">Billy Joel<\/span>, Bon Jovi, <span class=\"xn-person\">Chris Rock<\/span>, <span class=\"xn-person\">Idina Menzel<\/span>, <span class=\"xn-person\">Jennifer Lopez<\/span>, <span class=\"xn-person\">Jimmy Buffett<\/span>, OneRepublic, <span class=\"xn-person\">Zac Brown<\/span>, Sofi Tukker, and <span class=\"xn-person\">Darius Rucker<\/span>. <\/p>\n<p>\n        <b><br \/>\n          <u>About LiveXLive Media, Inc.<br \/><\/u><br \/>\n        <\/b>Headquartered in <span class=\"xn-location\">Los Angeles, California<\/span>, LiveXLive Media, Inc. (NASDAQ: LIVX) (the &#8220;Company&#8221;) (pronounced Live &#8220;by&#8221; Live) is a global platform for livestream and on-demand audio, video and podcast content in music, comedy, and pop culture. LiveXLive, which has streamed over 1500 artists since <span class=\"xn-chron\">January 2020<\/span>, has become a go-to partner for the world&#8217;s top artists and celebrity voices as well as music festivals concerts, including Rock in Rio, EDC Las Vegas, and many others. In <span class=\"xn-chron\">April 2020<\/span>, LiveXLive produced its first 48-hour music festival called &#8220;Music Lives&#8221; with tremendous success as it earned over 50 million views and over 5 billion views for #musiclives on TikTok on 100+ performances. LiveXLive&#8217;s library of global events, video-audio podcasts and original shows are also available on Amazon, Apple TV, Roku and Samsung TVs in addition to its own app, destination site and social channels. The Company&#8217;s wholly-owned subsidiary,\u00a0<a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3008695-1&amp;h=2710520548&amp;u=https%3A%2F%2Fc212.net%2Fc%2Flink%2F%3Ft%3D0%26l%3Den%26o%3D2906049-1%26h%3D3827724587%26u%3Dhttps%25253A%25252F%25252Fc212.net%25252Fc%25252Flink%25252F%25253Ft%25253D0%252526l%25253Den%252526o%25253D2898455-1%252526h%25253D3325192125%252526u%25253Dhttps%2525253A%2525252F%2525252Fc212.net%2525252Fc%2525252Flink%2525252F%2525253Ft%2525253D0%25252526l%2525253Den%25252526o%2525253D2892973-1%25252526h%2525253D780559935%25252526u%2525253Dhttps%252525253A%252525252F%252525252Fmailtrack.io%252525252Ftrace%252525252Flink%252525252F6def294b0dd1414b716839432d6175d981c62295%252525253Furl%252525253Dhttps%25252525253A%25252525252F%25252525252Fwww.podcastone.com%25252525252F%2525252526userId%252525253D1704000%2525252526signature%252525253D6f1a5a1aecd5d0d6%25252526a%2525253DPodcastOne%252526a%25253DPodcastOne%26a%3DPodcastOne&amp;a=PodcastOne\" rel=\"nofollow noopener noreferrer\">PodcastOne<\/a>, generates more than 2.1 billion downloads annually across more than 300 podcasts. For more information, visit\u00a0<a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3008695-1&amp;h=402723788&amp;u=https%3A%2F%2Fc212.net%2Fc%2Flink%2F%3Ft%3D0%26l%3Den%26o%3D2906049-1%26h%3D708906992%26u%3Dhttps%25253A%25252F%25252Fc212.net%25252Fc%25252Flink%25252F%25253Ft%25253D0%252526l%25253Den%252526o%25253D2898455-1%252526h%25253D1521659683%252526u%25253Dhttps%2525253A%2525252F%2525252Fc212.net%2525252Fc%2525252Flink%2525252F%2525253Ft%2525253D0%25252526l%2525253Den%25252526o%2525253D2892973-1%25252526h%2525253D780664746%25252526u%2525253Dhttp%252525253A%252525252F%252525252Fwww.livexlive.com%252525252F%25252526a%2525253Dwww.livexlive.com%252526a%25253Dwww.livexlive.com%26a%3Dwww.livexlive.com&amp;a=www.livexlive.com\" rel=\"nofollow noopener noreferrer\">www.livexlive.com<\/a>\u00a0and follow us on\u00a0<a target=\"_blank\" 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href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3008695-1&amp;h=3106142135&amp;u=https%3A%2F%2Fc212.net%2Fc%2Flink%2F%3Ft%3D0%26l%3Den%26o%3D2906049-1%26h%3D3739117059%26u%3Dhttps%25253A%25252F%25252Fc212.net%25252Fc%25252Flink%25252F%25253Ft%25253D0%252526l%25253Den%252526o%25253D2898455-1%252526h%25253D2974874307%252526u%25253Dhttps%2525253A%2525252F%2525252Fc212.net%2525252Fc%2525252Flink%2525252F%2525253Ft%2525253D0%25252526l%2525253Den%25252526o%2525253D2892973-1%25252526h%2525253D2108344617%25252526u%2525253Dhttps%252525253A%252525252F%252525252Fc212.net%252525252Fc%252525252Flink%252525252F%252525253Ft%252525253D0%2525252526l%252525253Den%2525252526o%252525253D2778652-1%2525252526h%252525253D3287494368%2525252526u%252525253Dhttps%25252525253A%25252525252F%25252525252Fbit.ly%25252525252Flivexlive-tw%2525252526a%252525253DTwitter%25252526a%2525253DTwitter%252526a%25253DTwitter%26a%3DTwitter&amp;a=Twitter\" rel=\"nofollow noopener noreferrer\">Twitter<\/a>\u00a0at @livexlive, and\u00a0<a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3008695-1&amp;h=2282893664&amp;u=https%3A%2F%2Fc212.net%2Fc%2Flink%2F%3Ft%3D0%26l%3Den%26o%3D2906049-1%26h%3D4275278612%26u%3Dhttps%25253A%25252F%25252Fc212.net%25252Fc%25252Flink%25252F%25253Ft%25253D0%252526l%25253Den%252526o%25253D2898455-1%252526h%25253D477558997%252526u%25253Dhttps%2525253A%2525252F%2525252Fc212.net%2525252Fc%2525252Flink%2525252F%2525253Ft%2525253D0%25252526l%2525253Den%25252526o%2525253D2892973-1%25252526h%2525253D3210706060%25252526u%2525253Dhttps%252525253A%252525252F%252525252Fc212.net%252525252Fc%252525252Flink%252525252F%252525253Ft%252525253D0%2525252526l%252525253Den%2525252526o%252525253D2778652-1%2525252526h%252525253D1850915586%2525252526u%252525253Dhttps%25252525253A%25252525252F%25252525252Fbit.ly%25252525252Flivexlive-yt%2525252526a%252525253DYouTube%25252526a%2525253DYouTube%252526a%25253DYouTube%26a%3DYouTube&amp;a=YouTube\" rel=\"nofollow noopener noreferrer\">YouTube<\/a>.<\/p>\n<p>\n        <b><br \/>\n          <u>Forward-Looking Statements<\/u><br \/>\n          <br \/>\n        <\/b>All statements other than statements of historical facts contained in this press release are &#8220;forward-looking statements,&#8221; which may often, but not always, be identified by the use of such words as &#8220;may,&#8221; &#8220;might,&#8221; &#8220;will,&#8221; &#8220;will likely result,&#8221; &#8220;would,&#8221; &#8220;should,&#8221; &#8220;estimate,&#8221; &#8220;plan,&#8221; &#8220;project,&#8221; &#8220;forecast,&#8221; &#8220;intend,&#8221; &#8220;expect,&#8221; &#8220;anticipate,&#8221; &#8220;believe,&#8221; &#8220;seek,&#8221; &#8220;continue,&#8221; &#8220;target&#8221; or the negative of such terms or other similar expressions. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including: the Company&#8217;s reliance on one key customer for a substantial percentage of its revenue; the Company&#8217;s ability to consummate any proposed financing or acquisition and the timing of the closing of such proposed transaction, including the risks that a condition to closing would not be satisfied within the expected timeframe or at all or that the closing of any proposed transaction will not occur; the Company&#8217;s ability to continue as a going concern; the Company&#8217;s ability to attract, maintain and increase the number of its users and paid subscribers; the Company identifying, acquiring, securing and developing content; the Company&#8217;s ability to maintain compliance with certain financial and other covenants; the Company successfully implementing its growth strategy, including relating to its technology platforms and applications; management&#8217;s relationships with industry stakeholders; the effects of the global Covid-19 pandemic; changes in economic conditions; competition; risks and uncertainties applicable to the businesses of the Company&#8217;s subsidiaries; and other risks, uncertainties and factors including, but not limited to, those described in the Company&#8217;s Annual Report on Form 10-K for the fiscal year ended <span class=\"xn-chron\">March 31, 2020<\/span>, filed with the U.S. Securities and Exchange Commission (the &#8220;SEC&#8221;) on <span class=\"xn-chron\">June 26, 2020<\/span>, Quarterly Report on Form 10-Q for the quarter ended <span class=\"xn-chron\">June 30, 2020<\/span>, filed with the SEC on <span class=\"xn-chron\">August 14, 2020<\/span>, and in the Company&#8217;s other filings and submissions with the SEC. These forward-looking statements speak only as of the date hereof and the Company disclaims any obligations to update these statements, except as may be required by law. The Company intends that all forward-looking statements be subject to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995.<\/p>\n<p>\n        <u>Press Contact:<br \/><\/u>For LiveXLive: The Rose Group\u00a0<br \/><span class=\"xn-person\">Lynda Dorf<\/span><br \/><a target=\"_blank\" href=\"mailto:Lynda@TheRoseGrp.com\" rel=\"nofollow noopener noreferrer\">Lynda@TheRoseGrp.com<\/a><\/p>\n<p>\n        <u>LiveXLive IR Contact<\/u>:<br \/>310.601.2500<br \/><a target=\"_blank\" href=\"mailto:ir@livexlive.com\" rel=\"nofollow noopener noreferrer\">ir@livexlive.com<\/a><\/p>\n<p>\u00a0<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder2\"><\/div>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=LA19619&amp;sd=2020-12-10\" \/> View original content to download multimedia:<a id=\"PRNURL\" rel=\"nofollow\" href=\"http:\/\/www.prnewswire.com\/news-releases\/livexlive-media-announces-two-million-shares-stock-repurchase-program-301190168.html\">http:\/\/www.prnewswire.com\/news-releases\/livexlive-media-announces-two-million-shares-stock-repurchase-program-301190168.html<\/a><\/p>\n<p>SOURCE  LiveXLive Media, Inc.<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=LA19619&amp;Transmission_Id=202012100700PR_NEWS_USPR_____LA19619&amp;DateId=20201210\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire LOS ANGELES, Dec. 10,\u00a02020 \/PRNewswire\/ &#8212;\u00a0LiveXLive Media\u00a0(Nasdaq: LIVX) (&#8220;LiveXLive&#8221;),\u00a0a global platform for livestream and on-demand audio, video and podcast content in music, comedy and pop culture, and owner of\u00a0PodcastOne,\u00a0announced today\u00a0that its board of directors (the &#8220;Board&#8221;) has authorized the repurchase up to two million shares of LiveXLive&#8217;s outstanding common stock from time to time (the &#8220;Program&#8221;). Robert Ellin, LiveXLive&#8217;s CEO and Chairman, commented, &#8220;I am pleased to announce board approval for the new stock repurchase program given the current price of our stock, which we do not believe reflects the underlying value of LiveXLive. We remain enthusiastic about the prospects of LiveXLive and are focused on our commitment to maximize shareholder value.&#8221; The timing, price, and quantity of &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/livexlive-media-announces-two-million-shares-stock-repurchase-program\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;LiveXLive Media Announces Two Million Shares Stock Repurchase Program&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-397129","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>LiveXLive Media Announces Two Million Shares Stock Repurchase Program - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/livexlive-media-announces-two-million-shares-stock-repurchase-program\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"LiveXLive Media Announces Two Million Shares Stock Repurchase Program - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire LOS ANGELES, Dec. 10,\u00a02020 \/PRNewswire\/ &#8212;\u00a0LiveXLive Media\u00a0(Nasdaq: LIVX) (&#8220;LiveXLive&#8221;),\u00a0a global platform for livestream and on-demand audio, video and podcast content in music, comedy and pop culture, and owner of\u00a0PodcastOne,\u00a0announced today\u00a0that its board of directors (the &#8220;Board&#8221;) has authorized the repurchase up to two million shares of LiveXLive&#8217;s outstanding common stock from time to time (the &#8220;Program&#8221;). Robert Ellin, LiveXLive&#8217;s CEO and Chairman, commented, &#8220;I am pleased to announce board approval for the new stock repurchase program given the current price of our stock, which we do not believe reflects the underlying value of LiveXLive. We remain enthusiastic about the prospects of LiveXLive and are focused on our commitment to maximize shareholder value.&#8221; The timing, price, and quantity of &hellip; Continue reading &quot;LiveXLive Media Announces Two Million Shares Stock Repurchase Program&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/livexlive-media-announces-two-million-shares-stock-repurchase-program\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-12-10T12:03:37+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mma.prnewswire.com\/media\/337602\/Loton_Corp_LiveXLive_Logo.jpg\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/livexlive-media-announces-two-million-shares-stock-repurchase-program\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/livexlive-media-announces-two-million-shares-stock-repurchase-program\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"LiveXLive Media Announces Two Million Shares Stock Repurchase Program\",\"datePublished\":\"2020-12-10T12:03:37+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/livexlive-media-announces-two-million-shares-stock-repurchase-program\\\/\"},\"wordCount\":969,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/livexlive-media-announces-two-million-shares-stock-repurchase-program\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/mma.prnewswire.com\\\/media\\\/337602\\\/Loton_Corp_LiveXLive_Logo.jpg\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/livexlive-media-announces-two-million-shares-stock-repurchase-program\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/livexlive-media-announces-two-million-shares-stock-repurchase-program\\\/\",\"name\":\"LiveXLive Media Announces Two Million Shares Stock Repurchase Program - 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