On June 24, 2019, the Board of Directors of Liberated Syndication Inc, a Nevada corporation (the “Company”) approved changes to the Company’s by-laws to raise the quorum required to approve matters considered at any special meeting of the Company’s stockholders called by the stockholders and adopting advance notice requirements regarding any business to be considered at an annual meeting of the Company’s stockholders at the request of any stockholder.

As previously disclosed, at this time the Company is not soliciting any revocation of consents sought by a certain stockholder regarding a special meeting and has taken a “wait and see” approach regarding the matters raised by such stockholder. In view of the potential change in control of the Company, however, the Company’s Board of Directors has consulted with counsel regarding the application of its current by-laws to a special meeting of its stockholders, should one be called. Given that a small minority of the outstanding shares (as little as approximately 16.67% of the shares outstanding) could effect a “no-premium” change of control that could adversely affect all stockholders and is effectively inconsistent with the voting requirements regarding removal of directors under applicable Nevada law, requiring a two thirds majority of outstanding shares to remove directors, the Company has amended its bylaws to require a majority quorum for any special meeting called by stockholders. Additionally, with respect to its annual meeting process, the Company has adopted a customary advanced notice provision regarding stockholder proposals.

The Company’s by-laws, as so amended, are included as Exhibit 3.2 and the foregoing summary is qualified in all respects by reference to such exhibit.

Item 9.01

Financial Statements and Exhibits

(a)

Exhibits

Liberated Syndication Inc. Exhibit
EX-3.2 2 lsyn_ex32.htm ARTICLES OF INCORPORATION / BYLAWS Blueprint   Exhibit 3.2   BYLAWS OF LIBERATED SYNDICATION     ARTICLE I OFFICES   Section 1.01  Location of Offices.  The corporation may maintain such offices within or without the State of Nevada as the Board of Directors may from time to time designate or require.   Section 1.02  Principal Office.  The address of the principal office of the corporation shall be at the address of the registered office of the corporation as so designated in the office of the Lieutenant Governor/Secretary of State of the state of incorporation,…
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About LIBERATED SYNDICATION INC. (OTCMKTS:LSYN)

Liberated Syndication Inc. is a podcast service provider offering hosting and distribution tools. The Company offers basic plans, as well as advanced plans that include storage, advanced statistics and podcast applications. Its hosting plans include unlimited downloads, media hosting-audio and video, own Webpage for the show, an iTunes compatible rich site summary (RSS) feed for the podcast, HTML5 video and audio player, single click multiple destination publishing with OnPublish and Network Application Listing. Its advanced hosting plans also include custom mobile application offering, advanced statistics package and MyLibsyn subscription management service. Its LibsynPRO service is an enterprise solution for professional media producers and corporate customers. The Libsyn4 product offering is a podcast hosting and distribution service, which includes storage, bandwidth, RSS creation, distribution and statistics tracking.