Boat Rocker Media acquired 100% membership interests of Platform One Media, LLC from Evolution Media and Liberty Global Plc (NasdaqGS:LBTY.A) for $14 million on August 31, 2019. The total consideration is net of cash acquired of CAD 1.9 million ($1.4 million). The consideration consisted of non-cash financial liabilities and contingent consideration. The non-cash financial liability recorded represents the seller's right to a variable number of Series D non-voting common shares of Boat Rocker valued at $2.5 million. The contingent consideration includes three earnouts that provide the seller with the right to a variable number of Series D non-voting common shares of Boat Rocker Media. The consideration and settlement dates of the earnouts are contingent on Platform One meeting certain operational criteria, including the receipt of signed copy of sales agreements with particular American broadcasters. As at August 30, 2019, Platform One Media reported total assets of $15.6 million (CAD 20.7 million) and total members' equity of $8.8 million (CAD 11.7 million).

As per terms of deal, Platform One Chief Executive Officer Katie O'Connell Marsh will become founder and chairman of Platform One, and she will also take on a leadership role at Boat Rocker. O'Connell Marsh's existing team will stay intact and the Platform One imprint will operate with autonomy under the Boat Rocker banner. Elisa Ellis, Platform One's Chief Creator Officer, and Steve Lescroart, head of finance and strategy have been promoted to Co-Presidents of Platform One, reporting to O'Connell Marsh.

Boat Rocker Media completed the acquisition of 100% membership interests of Platform One Media, LLC from Evolution Media and Liberty Global Plc (NasdaqGS:LBTY.A) on August 31, 2019.