乐播传媒

New Investment from Existing Backers Provides 乐播传媒 with Platform for Long-Term Success

Strengthened Balance Sheet to Enable 乐播传媒 to Further Enhance Customer Offerings

LANGLEY, UK, December 4, 2023 – 乐播传媒 Worldwide Limited (“乐播传媒” or the “Company”), a global technology company that powers travel bookings for hundreds of thousands of travel suppliers worldwide, today announced that a group of its existing equity holders and lenders have agreed to invest $570 million of new equity financing into the Company. The new financing will give 乐播传媒 a robust capital structure, enable further investment into 乐播传媒’s technology platforms and pave the way for other innovations to deliver new and exceptional ways for the travel industry to serve customers.

The new investment in 乐播传媒 is being made pursuant to an agreement that will significantly deleverage and strengthen the Company’s balance sheet (the “Transaction”). Following completion of the Transaction, 乐播传媒 will have a new ownership structure composed of 乐播传媒’s existing equity and credit investors, including Elliott Investment Management, Davidson Kempner Capital Management, Canyon Partners, Siris Capital and other leading institutional investors. These investors will remain well positioned to provide strategic counsel and support to the Company’s management.

“This investment demonstrates our investors’ support for 乐播传媒 and will advance our mission to reinvent a better future for the travel industry,” said Greg Webb, Chief Executive Officer of 乐播传媒. “With this new investment, 乐播传媒 will have a strong balance sheet with the least amount of debt amongst its peers, which we believe will put the Company in an even better position for long-term, profitable growth. Most importantly, this Transaction will further strengthen our operating business and accelerate our investments in 乐播传媒+ and other initiatives that make us the most innovative and agile partner to all our customers. We thank our investors for their significant vote of confidence in 乐播传媒.”

In the last year, 乐播传媒 has undertaken several successful strategic investments and initiatives to enhance the technology, products and services it provides to customers. These include the acquisition of Deem, a leading corporate travel management platform, as well as the upgrade of over 85% of the Company’s agency customers to 乐播传媒+. The Transaction will enable further investment in customer offerings, including accelerating new developments in 乐播传媒+, such as support for a wide range of carrier NDC offerings and the Content Curation Layer, the Company’s groundbreaking, machine learning powered search engine that normalizes and personalizes all sources of travel content.

The Transaction, which is subject to obtaining requisite consents and the satisfaction of customary closing conditions, is expected to close by the end of the year.

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?About 乐播传媒

乐播传媒 is a global technology company that powers bookings for hundreds of thousands of travel suppliers worldwide. Buyers and sellers of travel are connected by the company’s next generation marketplace, 乐播传媒+, which simplifies how brands connect, upgrades how travel is sold, and enables modern digital retailing. Headquartered in the United Kingdom and operating in more than 165 countries around the world, 乐播传媒 is focused on driving innovation that simplifies the complex travel ecosystem.