Stockholders Not Required to Take Action at This Time
PITTSBURGH, PA / ACCESSWIRE / July 17, 2019 / Liberated Syndication (OTCQB: LSYN) ("Libsyn" or the "Company"), a recognized leader in podcast hosting, distribution and monetization, today confirmed that Camac Fund, LP, and its affiliates Camac Partners, LLC, Camac Capital, LLC, and Eric Shahinian (collectively, "Camac") has delivered written requests in connection with Camac's request to call a Special Meeting of Stockholders ("Special Meeting"). Libsyn stockholders are not required to take any action at this time.
The Special Meeting request will be handled in accordance with the Company's bylaws. At the direction of Libsyn's Board of Directors, the Company is in the process of engaging an independent inspector in accordance with market practice to review the written requests submitted by Camac to determine whether it has satisfied the 25% threshold necessary to call a Special Meeting. The Company expects to report the results and announce additional information about a potential Special Meeting following the independent inspector's review.
Libsyn issued the following statement:
''The Company's Board and management team remain focused on operating and growing its businesses, including our industry leading podcasting franchise, and driving further value creation for all Libsyn stockholders.''
Loeb & Loeb LLP and Sherman & Howard LLP are serving as legal advisors to the Company and MacKenzie Partners, Inc. is serving as proxy advisor in connection with the activities of Camac.
About Liberated Syndication:
Liberated Syndication ("Libsyn") is the world's leading podcast hosting network and has been providing publishers with distribution and monetization services since 2004. In 2018 Libsyn delivered over 5.1 billion downloads. Libsyn hosts over 4.9 million media files for more than 62,000 podcasts, including typically around 35% of the top 200 podcasts in Apple Podcasts. Podcast producers choose Libsyn to measure their audience, deliver popular audio and video episodes, distribute their content through smartphone Apps (iOS and Android), and monetize via premium subscription services and advertising. We are a Pittsburgh based company with a world class team. Visit us on the web at https://www.libsyn.com.
Pair Networks, founded in 1996, is one of the oldest and most experienced Internet hosting company providing a full range of fast, powerful and reliable Web hosting services. Pair offers a suite of Internet services from shared hosting to virtual private servers to customized solutions with world-class 24x7 on-site customer support. Based in Pittsburgh, Pair serves businesses, bloggers, artists, musicians, educational institutions and non-profit organizations around the world. Visit us on the web at www.pair.com.
"Forward-looking Statements" as defined in the Private Securities litigation Reform Act of 1995 may be included in some of the information or materials made available on this website. These statements relate to future events or our future financial performance. These statements are only predictions and may differ materially from actual future results or events. We disclaim any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. There are important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to, risks associated with our change in business strategy towards more heavy reliance upon on our new talent segment and wholesale channels, actions of regulators concerning our business operations or trading markets for our securities, the extent to which we are able to develop new services and markets for our services, our significant reliance on third parties to distribute our content, the level of demand and market acceptance of our services and the outcome of the change of control sought by Camac.
Arthur Douglas & Associates, Inc.
MacKenzie Partners, Inc.
Paul Caminiti / Nicholas Leasure
SOURCE: Liberated Syndication, Inc.
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