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In a Form 8-K filed on October 28, 2020, LiveXLive Media, Inc. announced that it has signed a binding Letter of Intent to acquire 100% of the membership interests of Custom Personalization Solutions, LLC (CPS) in an all stock deal. The transaction is valued up to $6 million and is expected to close by December 31, 2020. “The global licensed merchandise market is expected to reach $400 billion by 2023. This acquisition presents an immense opportunity for LiveXLive to leverage its audience, platform and artist and entertainment industry relationships to add commerce and specialized consumer product revenues to our music stack and help drive the transaction components of our flywheel business model,” says Robert Ellin, CEO and Chairman of LiveXLive.
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