Spinoff of LiveOne falls nearly 50% one day after Von goes public with Kast Media allegations
The tumble came amid growing criticism of one of PodcastOne’s acquisition targets — California-based Kast Media — by major podcasters like comedian
who accused Kast failing to pay out $4 million in advertising fees collected by Kast on behalf of its podcaster clients.,” Von alleges that Kast Media founder and CEOfor the advertisements it sold and booked for Von’s show.
. He noted that PodcastOne is no longer hiring Thomson to join his the publicly traded company, but noted he hoped to help creators hurt by the Kast Media controversy. “We’ve bought a distressed asset called Kast Media, a very distressed, troubled asset owed a lot of money to its podcasters and couldn’t really afford to pay them. And the banks pulled out. And that host pulled out. So we acquired those and have added some very serious revenues to it,” he said.
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