Flash Sports & Media Holdings, Inc. (NASDAQ:FLZH) ("Flash Sports & Media," "FSM" or the "Company"), a vertically integrated sports, media and fan engagement platform, today announced that it has entered into a non-binding term sheet to acquire a 51% controlling interest in Bongo Holdings Pte Ltd ("Bongo"), one of South Asia's leading digital media, streaming and content distribution platforms. This transaction would give FSM a controlling position and based on financial information provided by Bongo management, the Company expects Bongo to contribute positive EBITDA following closing, before giving effect to transaction expenses, purchase-accounting adjustments and financing costs.