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Libsyn Announces Sale of Pair Networks, Leadership Transition
Libsyn, a leading podcasting platform, announced it will sell its website hosting platform, Pair Networks, to Your.Online. This online services platform is part of Strikwerda Investments from the Netherlands. The sale aims to streamline Libsyn's operations and focus on podcasting and advertising.
Chuck Cargile, Libsyn CFO and Interim CEO, stated that this sale will help the company invest more in podcast creators and advertising partners. He assured continued support for a smooth transition. The transaction is expected to close by the end of August 2024.
The Board of Directors is also working on a leadership succession plan for future growth. Patrick Dolan, Chairman of the Board, highlighted the team's strong performance and the need for new leadership to strengthen Libsyn's market position.
John W. Gibbons, Interim CEO since June 2023, has left the company.
R. P.
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