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Also sale price would have to be high enough to justify giving them $1m cut

I think this is still to be approved at AGM. Would be $600k for Stuart and $500k for Brad, decent incentive and potential sale still on the cards!

Revised bonus parameters have been established for 2026 and, in addition to the core performance related bonus, a transaction related bonus (equivalent to 200% of salary) would be payable to the Executive Directors upon the successful completion of a Board recommended transaction that leads to a change of control of the Company.

Should see an enhanced Amazon deal at some point

I count 4 employees leaving recently including maybe UK President Andy Goldsmith - either cuts or maybe a rerorganisation to be announced

I’d be pointing the finger at Goodwin they’re a small firm so who leaked to Sky News? Looks like board believed the fake rumour

Since the strategic review was launched they’ve done deals with Spotify and Apple and 2026 revenue will be 25% up on last year and people are still asking what the plan is? They’ll tell us when they’re ready how they’re going to deliver the next 25%, we haven’t even seen the upside from those deals yet and neither has any bidders

Stuart always said they couldn’t list in US until hit $100m revenue and $8-10m earnings which they are about to cross , if I recall would cost $2-3m initially then marginal after that - can ask the board the question but I’m thinking the same why bother realist if the plan is still to sell in the short term. Just need a few more quarters trending figures and share price to hold a bit higher over £7-8 for bidders to offer a premium

Hopefully they start buybacks soon or another institute comes in, share price probably needs to drop to let them in like Dowgate

I don’t get the Candy and Tobin bashing they gave the business $5m loan at the start to get them off their feet wouldn’t be here without them , just always wondered why Candy doesn’t buy more shares as he has the means to shore up the price

Watch the Q4 2020 presentation after the last strategic review, will pretty much be a repeat story. Current share price is anchor for any bidders and cannot justify to their boards paying a significant premium

Fox buying Roku $22bn

https://www.hollywoodreporter.com/business/business-news/fox-acquires-roku-streaming-tech-deal-lachlan-murdoch-1236621853/

Always thought £10m was far too much and still not over Dowgate being allowed to participate in the raise at a dirty price, could have easily funded smaller purchase price with debt. But now they have extra cash to play with

Also further proof timing of sales process was off if all the upside from the Adelicous deal is yet to happen and sector is going through transaction period with video. Kind of hard to justify a higher EV if you paid 0.5x

Q2 numbers are also not so good, the trading update was the bare minimum figure they could have reported. Says Q2 revenue will be the same as Q1 so upside of Spotify and Apple deals haven’t kicked in yet. Best to park this until end of the year as usual when the crème occurs, could be a whopper

Lastly this is third time they turned down offers and won’t be the last, obviously disappointing but not a bad position to be in if people repeatedly want to buy your business

As pointed out anyone buying now gets a free hit with takeover premium temporarily removed, it will come back over time

To be continued

Basically got the company for a steal

Was already laid out in 2025 year end accounts if people bothered to read them

‘It is a strong template for how we will approach future potential M&A opportunities within the podcast market.’

Advisors get the bulk of their fee only if a deal closes

The RNS was intentionally vague to leave all cards still on the table

Since no firm bids were made or the bidders named they are not locked out for 6 months like normally would be

There are plenty of options that can be explored outside of Takeover code

I’m not putting my hopes on anything happening any time soon but the RNS didn’t say they terminated the advisors

Interview

https://youtu.be/AU9kjjoHndQ

Every little helps but all those much larger Dowgate buys haven’t helped the SP hold a higher level, really need an extra institute coming in taking 100k + shares or now that the business has free cashflow what do they do with it?

Would send a strong signal if Tobin started buying again

Still holding 67,000 odd shares and will buy when I can

Would be interesting to see what Dowgate do next, wouldn’t be surprised if they sold some but they were pay nearly £8 at one point

SP be volatile for a while and does suck the wind out of the share for the time being , does a smart institute or traders take advantage ?

It was strange timing to launch last year when sector is still going through transition to video podcasts , I think if Sky news hadn’t leaked they would have carried out the review in the background and perhaps launched a sales process in H2 2026 off that back of better financials, bidders would have been working off the unknown right now so explains why weren’t high enough

The way I see it prospectus has been prepared , DD is all all in data room none of the early round or prospective bidders are locked out from coming back for the next 6 months

Boom will probably do another European acquisition or partnership tie in but market knows they are open for a sale and don’t bother to come knocking with a low ball offer

If the board want the SP to increase financials do need to grow faster than they are currently are but board already know that

Still on track to do $100m revenue and at least $8m profit this year, lets see how the market plays this one out

Should be an interesting day

Dropped to second place but downloads up 14% on April

https://podscribe.com/top-publishers/may-2026?utm_source=podnews.net&utm_medium=web&utm_campaign=podnews.net%3A2026-06-04