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SUBSEQUENT EVENTS
9 Months Ended
Sep. 30, 2019
Subsequent Events Abstract  
Schedule Of Subsequent Events Text Block

16. SUBSEQUENT EVENTS

 

Events occurring after September 30, 2019, and through the date that these consolidated financial statements were issued, were evaluated to ensure that any subsequent events that met the criteria for recognition have been included and are as follows:

 

On October 16, 2019, the Company acquired the remaining interest in Cadence13 (“Cadence13”), a leading creator of premium, personality-based podcasts and other on-demand audio content for $24.3 million in cash. As a result, Cadence13 became a wholly-owned subsidiary of the Company. The Company previously purchased a minority ownership interest in Cadence13 in July 2017. The initial accounting for this acquisition is incomplete due to the proximity of the acquisition date to the time of this filing. The Company is unable to provide the amounts recognized as of the acquisition date. This information will be included in future filings.