Mooter Media has reached a final agreement over its acquisition of Hot Shot Media and partnership with Hot Shot’s parent.
The company has arranged to acquire 100% of Hot Shot Media, then enter into a 50:50 JV with Hot Shot Media Pte, the parent entity.
Under the arrangement, Mooter Media will be entitled to 50% of all revenue from the JV in perpetuity, and the first $5 million to repay advances from Hot Shot Media.
Mooter will also be entitled to 100% of the advertising revenue for the first five years, after which they will be shared equally between the JV.
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