ChainCatcher news, Web3 media Rug Radio announced on X the acquisition of the NFT media platform Lucky Trader, with specific acquisition amount and valuation information yet to be disclosed.Rug Radio had previously signed a letter of intent to merge with blockchain media Decrypt to establish a new holding company.

According to ChainCatcher news, as reported by axios, the crypto media Decrypt has signed a letter of intent to merge with the decentralized media company Rug Radio. The two companies will merge to form a new holding company, the specific name of which is yet to be determined, and both companies will retain their respective brands and independence. To facilitate such a fair transaction, the new holding company plans to collaborate exclusively with Arbitrum, and executives aim to complete the deal by early 2024, with the expectation that the transaction will not require regulatory approval.The holding company will be chaired by Decrypt's current CEO Josh Quittner, while Rug Radio's current co-CEO Loxley Fernandes and founder Farokh Sarmad will serve as CEO and president of the new holding company, respectively. Investors from Decrypt and Rug Radio will retain shares in the new holding company.