The Beachbody Company Potential customers Investment in Feed Media Team, Premier B2B Tunes Licensing Platform
9 min readFeed Media Group’s provider provides enhanced accredited new music content material and economics
Strengthens Beachbody’s position as innovative chief in at-property health
SANTA MONICA, Calif., Jun 17, 2021–(Small business WIRE)–The Beachbody Enterprise Group, LLC (“Beachbody”), a chief in membership health and fitness and wellness, currently declared it manufactured a strategic minority financial investment in Feed Media Group, the organization powering Feed.fm, the leading B2B new music licensing membership provider.
By way of its arrangement with Feed.fm announced final thirty day period, Beachbody is in a position to elevate its exercise platforms by employing an economical and value-effective solution that secures wide entry to well-liked certified music for its reside and on-desire material. Beachbody’s minority financial commitment will guide Feed.fm in accelerating new item development to boost its suite of proprietary songs streaming solutions.
“There’s practically nothing far more effective than the ideal new music to help you force to the following level of your exercise,” said Carl Daikeler, Co-founder, Chairman and CEO of Beachbody. “Feed.fm has designed an providing that elevates and differentiates the shopper expertise though mitigating the expenses, pitfalls and limitations affiliated with industrial audio accessibility. Our expenditure in Feed.fm is not only critical for the Beachbody and Openfit platforms, it demonstrates our dedication to devote in innovation that serves the complete conditioning industry.”
“We’re on a mission to make it simple, rapid, and lawful for firms to use tunes to ability great client ordeals,” mentioned Jeff Yasuda, CEO of Feed Media Team. “In partnership with crucial players in the audio industry, we’re obtaining new alternatives that provide all stakeholders: firms, rightsholders, and listeners. Beachbody’s deep practical experience in wellbeing and wellness and progressive method to serving clients are a ideal fit for us as we scale.”
On June 24, 2021, Forest Street Acquisition Corp. (NYSE: FRX) (“Forest Highway”) will host a specific assembly of stockholders to vote on its proposed merger with Beachbody and Myx Health Holdings, LLC (“Myx”). Forest Road’s Board of Administrators unanimously recommends that stockholders vote “FOR” the adoption of the merger settlement and the other proposals comprehensive in the proxy statement/prospectus despatched to stockholders. Each individual stockholder of history as of Might 6, 2021 is entitled to vote. Make sure you take a look at www.votefrx.com for specifics on how to vote. Upon closing of the company blend transaction, the put together business will be renamed “The Beachbody Firm” and be listed on the NYSE beneath a new ticker image, “Overall body.”
About The Beachbody Enterprise Team, LLC
Headquartered in Santa Monica, Beachbody is a around the globe chief in wellbeing and conditioning, with a 22-yr monitor document of generating ground breaking written content and effective makes. With 2.7 million compensated electronic health subscribers throughout two platforms, a nationwide peer-assistance program of more than 400,000 influencers and coaches as of March 31, 2021, in addition a premium portfolio of branded nourishment goods, Beachbody is a top holistic health and wellness corporation with over $1 billion in revenue projected in 2021. Beachbody, the mum or dad business to the Beachbody On Demand from customers platform and the quickly-increasing DTC system Openfit, lately entered into a pending three-way merger settlement with Forest Road, a publicly traded unique reason acquisition business, and Myx, an at-house related health platform, that will make it a community firm. For extra facts, you should go to TheBeachbodyCompany.com.
About Myx Physical fitness Holdings, LLC
Myx provides a innovative and customized solution for its associates to make connected health element of their daily lives. The brand’s cornerstone items, The MYX and The MYX Additionally, offer skilled-quality gear at an very affordable price, hundreds of on-desire classes, mixed with expert coaching on a digital system, built to strengthen stamina, strength, mobility and overall flexibility. Utilizing science-backed approaches, Myx utilizes proprietary coronary heart amount technological innovation and cross-schooling, introduced to lifestyle by way of good coaching, to provide long lasting final results. Myx is out there commencing at $1,299 with supply nationwide in roughly a single to three weeks based on locale and scheduling availability.
About Forest Street Acquisition Corp.
Forest Street Acquisition Corp., a blank test business formed for the goal of effecting a merger, funds inventory trade, asset acquisition, stock obtain, reorganization or identical company mixture with 1 or extra firms, elevated $300 million in November 2020 and its securities are detailed on the NYSE below the tickers “FRX,” “FRX.U” and “FRX WS.” The Forest Street team contains 3 previous Disney senior executives — Tom Staggs, director and Chairperson of the Strategic Advisory Committee, Kevin Mayer, strategic advisor and Salil Mehta, Chief Money Officer — and is strengthened by the strategic connectivity and offer-producing experience of directors, officers and strategic advisors like Shaquille O’Neal, Peter Schlessel, Keith Horn, Sheila Stamps, Teresa Miles Walsh and Martin Luther King III. For far more details, make sure you stop by https://www.spacroadone.com/. For additional info on how to vote, remember to visit www.votefrx.com.
About Feed Media Team
Feed Media Group is for corporations that require licensed common music to generate the most participating client encounters in their digital applications and physical spaces. Feed Media Group’s proprietary streaming platform and SDKs deliver pre-cleared new music — compiled by the industry’s greatest curators — finish with consumer analytics, payments to legal rights holders, and legal indemnification for our consumers. Feed.fm powers new music for the world’s top makes such as The Beachbody Business, American Eagle Outfitters, Mayo Clinic, Mirror, Nautilus and Tonal and up-and-coming startups use Adaptr to generate special music-dependent experiences.
Ahead-On the lookout Statements
This press release incorporates specific ahead-searching statements within the which means of the federal securities regulations with regard to the proposed transaction concerning Beachbody, Forest Street and Myx, including statements pertaining to the predicted benefits of the transaction, the predicted timing of the transaction, long term monetary ailment and performance of Beachbody and Myx and expected economic impacts of the transaction (together with foreseeable future revenue, pro forma fairness benefit and funds harmony), the gratification of closing disorders to the transaction, the PIPE transaction, the degree of redemptions of Forest Road’s public stockholders and the merchandise and markets and predicted foreseeable future general performance and industry alternatives of Beachbody and Myx. These ahead-wanting statements usually are discovered by the text “think,” “challenge,” “assume,” “anticipate,” “estimate,” “intend,” “technique,” “potential,” “chance,” “prepare,” “may well,” “should really,” “will,” “would,” “will be,” “will proceed,” “will very likely end result” and identical expressions. Ahead-looking statements are predictions, projections and other statements about long term occasions that are based mostly on present anticipations and assumptions and, as a end result, are topic to pitfalls and uncertainties. Several elements could trigger genuine potential gatherings to differ materially from the ahead-seeking statements in this push release, together with but not restricted to: (i) the possibility that the transaction could not be accomplished in a timely fashion or at all, which may well adversely have an effect on the price of Forest Road’s securities, (ii) the danger that the transaction may well not be accomplished by Forest Road’s business enterprise mix deadline and the opportunity failure to get hold of an extension of the business mixture deadline if sought by Forest Street, (iii) the failure to satisfy the ailments to the consummation of the transaction, like the approval of the merger agreement by the stockholders of Forest Highway, the fulfillment of the minimum amount have confidence in account quantity adhering to any redemptions by Forest Road’s general public stockholders and the receipt of specific governmental and regulatory approvals, (iv) the absence of a third celebration valuation in deciding whether or not to go after the proposed transaction, (v) the incapacity to total the PIPE transaction, (vi) the incidence of any occasion, modify or other circumstance that could give increase to the termination of the merger agreement, (vii) the outcome of the announcement or pendency of the transaction on Beachbody’s or Myx’s organization interactions, working outcomes, and small business generally, (viii) dangers that the proposed transaction disrupts existing programs and functions of Beachbody or Myx, (ix) the consequence of any lawful proceedings that may perhaps be instituted from Beachbody, Myx or towards Forest Highway linked to the merger settlement or the proposed transaction, (x) the skill to preserve the listing of the securities on a national securities trade, (xi) alterations in the competitive and controlled industries in which Beachbody and Myx work, variants in operating functionality throughout competition, modifications in legal guidelines and restrictions influencing the company of Beachbody and Myx and modifications in the combined capital construction, (xii) the skill to employ organization ideas, forecasts, and other expectations immediately after the completion of the proposed transaction, and recognize and comprehend added prospects, and (xiii) prices linked to the transaction and the failure to notice predicted advantages of the transaction or to realize believed pro forma results and underlying assumptions, which include with respect to estimated shareholder redemptions. The foregoing record of variables is not exhaustive. You should diligently take into consideration the foregoing factors and the other threats and uncertainties explained in the “Risk Factors” part of the Registration Assertion on Variety S-4 (as amended, the “Registration Assertion”), and other files submitted by FRX from time to time with the SEC. These filings recognize and address other essential threats and uncertainties that could trigger real events and final results to differ materially from those contained in the ahead-on the lookout statements. Ahead-seeking statements talk only as of the date they are created. Audience are cautioned not to place undue reliance on forward-hunting statements, and Beachbody, Myx and Forest Highway believe no obligation and do not intend to update or revise these forward-wanting statements, regardless of whether as a consequence of new details, foreseeable future events or in any other case. None of Beachbody, Myx or Forest Street offers any assurance that Beachbody, Myx or Forest Street, or the merged firm, will attain its anticipations.
No Offer you or Solicitation
This press release is for informational reasons only and shall not constitute an offer you to sell or the solicitation of an offer to purchase any securities pursuant to the proposed transaction or or else, nor shall there be any sale of securities in any jurisdiction in which the give, solicitation or sale would be illegal prior to the registration or qualification less than the securities guidelines of any this kind of jurisdiction. No present of securities shall be designed except by usually means of a prospectus meeting the specifications of Portion 10 of the Securities Act of 1933, as amended.
Essential Information and Exactly where to Obtain It
This press launch relates to a proposed transaction amongst Beachbody, Forest Highway, and Myx. The Registration Statement was declared successful by the SEC on May well 27, 2021. A definitive proxy assertion/prospectus will be despatched to all Forest Highway stockholders. Right before earning any voting determination, stockholders of Forest Highway are urged to read the definitive proxy statement/prospectus and all other related files filed or that will be filed with the SEC in link with the proposed transaction as they turn into out there due to the fact they will have essential info about the proposed transaction.
Buyers and stockholders will be able to acquire cost-free copies of the Registration Statement, the definitive proxy statement/prospectus and all other suitable files submitted or that will be filed with the SEC by Forest Highway through the web site preserved by the SEC at www.sec.gov.
Individuals in the Solicitation
Forest Street and its directors, govt officers and advisors may possibly be considered participants in the solicitation of proxies from Forest Road’s stockholders with regard to the proposed transaction. A checklist of the names of those people directors, govt officers and advisors and a description of their interests in the Company is contained in the Registration Assertion and is accessible cost-free of charge at the SEC’s net web page at www.sec.gov, or by directing a ask for to Forest Road Acquisition Corp., 1177 Avenue of the Americas, 5th Ground, New York, New York 10036, Notice: Keith L. Horn. Supplemental info about the pursuits of these kinds of contributors is contained in the definitive proxy assertion/prospectus for the proposed transaction.
Beachbody, Myx and their respective administrators and government officers may perhaps also be deemed to be participants in the solicitation of proxies from the stockholders of Forest Roadin connection with the proposed transaction. A checklist of the names of such directors and executive officers and details relating to their interests in the proposed transaction is bundled in the definitive proxy statement/prospectus for the proposed transaction.
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