Modern Media Acquisition shareholders have been asked to extend the completion deadline for the acquisition of MMA by two months until 17 August. This is the second time CEO Lew Dickey has asked investors for more time to complete the $469m purchase of the streaming audio company. Delays to closure have resulted in Dickey lending the company $2m from his own pocket, a figure that will rise to $4.2m if the entire two-month extension is required.
Modern Media Acquisition shareholders have been asked to extend the completion deadline for the acquisition of Akazoo by two months until 17 August. This is the second time CEO Lew Dickey has asked investors for more time to complete the $469m purchase of the streaming audio company. Delays to closure have resulted in Dickey lending the company $2m from his own pocket, a figure that will rise to $4.2m if the entire two-month extension is required.