Pivoting to AI-Entertainment, Paranovus Entertainment Technology Ltd Signs Letter of Intent to Acquire BlueLine Studios

 Expansion into AI-powered online entertainment industry reflects strategic evolution of the business model

NANPING, China, Sept. 6, 2023 /PRNewswire/ -- Paranovus Entertainment Technology Ltd. (Nasdaq: PAVS) (the "Company") today announced that it has signed a non-binding Letter of Intent (LOI) to acquire 100% of BlueLine Studios Inc. ("BlueLine"), a portfolio company of Caravan Digital L.P. ("Caravan"), a co-founder of consumer companies authentically powered by iconic artists and athletes in partnership with Creative Artists Agency ("CAA").

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