Audioboom puts itself up for sale

Tue, 11 Feb 2020 | BUSINESS SALE



Podcast producer Audioboom has confirmed that it has put itself up for sale and that it has appointed financial advisers to seek potential buyers.

Based on its share price, Audioboom is valued at around £31 million and has annual sales of £17 million.

The company’s largest shareholder is luxury property developer Nick Candy, whose company Candy Ventures owns a 26 per cent stake.

Audioboom recently received a £3.1 million loan from its chairman Michael Tobin and Candy Ventures.

The New York bank Raine Advisers has been appointed to head a strategic review of the business and to seek out potential buyers.

Other options include strategic partnerships, financial investment and business combinations. Audioboom says it is yet to receive any approaches but will look to deliver maximum value for shareholders.

Audioboom has in excess of 90 million listeners per month for its podcasts, which include the Greatest Game with ex-Liverpool defender Jamie Carragher and Beyond the Grid, the official podcast of Formula 1.

Other notable podcasts it produces include programmes hosted by broadcaster Sue Perkins and former rugby player Lewis Moody.

Audioboom said: “There can be no certainty that this will result in an offer for the issued and to be issued share capital of the company or any form of transaction or other development for Audioboom, or the terms and timing of such matters.”

Audioboom Group Plc stocks rose 19 per cent to 256p following the announcement that the business was up for sale.


Share this article



Latest Businesses for Sale

Video Content Management Solutions Provider
UK Wide

Provider of complete video content management software solutions for the creation delivery and monitoring of both live and on-demand media content. With expertise in streaming software the company s offering simplifies the integration of streaming vi...

Asking Price: Offers Invited
Turnover: £617,000

Digital Marketing Solutions
South East, UK

Well-established digital marketing agency predominantly supporting SMEs with the generation of new leads via innovative and proven online promotional strategies including Pay-Per-Click (PPC) Search Engine Optimisation (SEO) and Social Media Marketing...

Asking Price: Offers Invited
Turnover: £933,000

Multi-Disciplined Creative Agency
Surrey, South East, UK

A rare opportunity to acquire a long standing, successful and profitable design & print business. The company is currently based in the Home Counties, with easy access to London - but could easily be relocated if necessary. The founder and primary sh...

Asking Price: Offers Invited
Turnover: £1,000,000

RELOCATABLE



View more businesses for sale

News Search

Latest News

 
07
 
Aug
 

Wrexham-based wire firm falls into administration | ADMINISTRATION

Wire manufacturer Wrexham Wire has fallen into administratio...

 
06
 
Aug
 

Leading UK tour operator Ski Weekends enters administration | ADMINISTRATION

One of the UK’s leading ski tour operators Harris Holi...

 
05
 
Aug
 

Pizza Express puts itself up for sale and looks to close 67 outlets | BUSINESS SALE

Pizza Express has announced that it is seeking a buyer for i...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources