Libsyn Closes $30M Deal to Acquire AdvertiseCast

Liberated Syndication Inc. (Libsyn), a podcast hosting platform, closed its acquisition of podcast advertising company AdvertiseCast LLC. Faegre Drinker represented Libsyn in the $30 million deal, which included $18 million in cash, $10 million in newly issued Libsyn shares, and $2 million in an earnout provision that is subject to the terms and conditions of the purchase agreement.