Exits UMG. The company announced that it has sold its UMG subsidiary to Harena Data, Inc. in an asset purchase. Purchase price was not disclosed, but we expect it to be diminutive. We view the sale favorably as the company exits this money losing operation and as the company positions itself to swing toward break even and concentrates on its profitable growth oriented businesses. Strategy gains visibility. The recent moves shift the company away from direct-to-consumer platforms in order to focus on its B2B businesses that carry higher margins. The repositioning of the company is expected to swing the company toward run rate break cash flow by the second half fiscal 2023. Read More >>