GSMG - Glory Star New Media terminates merger with Cheers

2023-04-11 07:00:37 ET

• Digital media platform and content-driven e-commerce company in China, Glory Star New Media Group ( NASDAQ: GSMG ) terminates merger with Cheers Inc.
• On April 6, Glory Star sent a notice to Cheers as conditions relating to the merger were breached and cannot be cured before the termination date of the merger agreement.
• Cheers is obligated to pay ~$1.05M to the company.
• The company continues to integrate its cutting edge blockchain technologies, massive user base from its CHEERS ecosystem, quality content offerings, and its well-established e-commerce platform.

For further details see: