Flash Sports & Media signs term sheet to buy 51% stake in Bongo Holdings

Flash Sports & Media (FLZH) signed a non-binding term sheet to buy a 51% stake in South Asia digital media platform Bongo.

Bongo’s network reaches more than 300 million viewers, with owned brands totaling over 73 million social media followers.

Bongo management financials indicate about USD 10 million in revenue, with positive EBITDA expected for Flash following closing.

Consideration is structured as 60% cash, 40% equity, with a potential earnout of up to USD 12 million tied to revenue and EBITDA growth.

Flash is targeting Bongo’s streaming technology and distribution scale to support direct-to-consumer expansion in Asian markets.