Algorhythm Holdings Sells Singing Machine Karaoke Business to Stingray for $4.5 Million

Reuters

08/08

Algorhythm Holdings Sells Singing Machine Karaoke Business to Stingray for $4.5 Million

Algorhythm Holdings Inc. announced the completion of its $4.5 million sale of the Singing Machine karaoke business to Stingray Music USA, Inc. The transaction, which involves the sale of all assets related to the karaoke business, was settled through cash payment and the assumption of selected liabilities and trade payables by Stingray. This strategic move allows Algorhythm to focus on its high-growth AI freight platform, SemiCab. According to Gary Atkinson, CEO of Algorhythm, the sale represents a significant milestone, enabling the company to concentrate resources on expanding SemiCab, which has seen its annualized revenue run rate more than triple since January 2025. The transaction is expected to provide a seamless transition for Singing Machine's employees, customers, and partners, with the brand continuing to thrive under Stingray's leadership.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Algorhythm Holdings Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001641172-25-022621), on August 07, 2025, and is solely responsible for the information contained therein.

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While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Algorhythm Holdings Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001641172-25-022621), on August 07, 2025, and is solely responsible for the information contained therein.</span></em>\n</div></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4078","symbol_name":"消费电子产品","start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20250807:nNDLb4pPbP:1","article_id":"2557949155","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2557949155","pubTimestamp":1754601960,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"Algorhythm Holdings Inc. announced the completion of its $4.5 million sale of the Singing Machine karaoke business to Stingray Music USA, Inc. 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The transaction, which involves the sale of all assets related to the karaoke business, was settled through cash payment and the assumption of selected liabilities and trade payables by Stingray. This strategic move allows Algorhythm to focus on its high-growth AI freight platform, SemiCab. According to Gary Atkinson, CEO of Algorhythm, the sale represents a significant milestone, enabling the company to concentrate resources on expanding SemiCab, which has seen its annualized revenue run rate more than triple since January 2025. The transaction is expected to provide a seamless transition for Singing Machine's employees, customers, and partners, with the brand continuing to thrive under Stingray's leadership.\n      \n\nDisclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. 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