Authentic Holdings (OTC: AHRO) has strategically expanded its entertainment holdings through the acquisition of Goliath Motion Pictures Entertainment for $11 million. This equity-based transaction enriches Authentic Holdings' portfolio with over 40,000 titles, including renowned shows and films such as In Living Color, The Cosby Show, and Open Range. The deal, structured as a Convertible Preferred Stock transaction, includes conversion restrictions aimed at minimizing shareholder dilution over three years.
The acquisition is poised to bolster Maybacks Global Entertainment's market stance and unlock new advertising revenue streams. By integrating Goliath's extensive content library, Authentic Holdings aims to penetrate major U.S. markets more effectively. This move not only diversifies the company's entertainment assets but also complements its existing ventures in technology and textiles, showcasing a holistic approach to growth in the entertainment sector.
Following the transaction's completion, Authentic Holdings will file an 8-K document with the Securities and Exchange Commission, formalizing the acquisition. This development aligns with the company's partnership with WiseDV, highlighting its dedication to pioneering advancements in streaming and entertainment services.
