Loton, Corp. (LTNR) announced that the company has entered into a letter of intent to acquire a majority interest in advertising agency, The Kluger Agency (“TKA”). The letter of intent includes an option to acquire the remaining 49% of TKA within 18 months.
Established in 2008, TKA represents more than 75 brands and specializes in product placement for music videos, lyrics, and song titles. TKA focuses on brands that can be worn or shown, and are hip, but not yet mainstream. Brands represented by the company include auto manufacturers, beverage brands, social networking sites and mobile applications. The company has assisted brands by creating and developing creative relationships with the most popular Top 40 and Rhythmic artists around the world.
“With companies such as YouTube and Vevo offering a library of more than 100,000 music videos in HD and popular videos commanding more than 100 million views a piece, we believe that The Kluger Agency will be an excellent addition in enhancing our efforts in delivering the preeminent 'triple threat' Music Experience Channel: Mobile, Internet and TV across all genres of music around the globe. Adam Kluger has experience working with leading music labels, artists, management companies, and brands and adds his expertise to the world class Loton team,” commented Robert Ellin, Executive Chairman and President of Loton, Corp. “With the combined skills of our team, we are in position to continue to build and buy assets in the music, entertainment and technology space.”
About Loton, Corp.
In April, 2014, Loton, Corp. acquired a fifty percent interest in KOKO, a premier multimedia and lifestyle brand and one of London’s iconic live music venues. KOKO is internationally renowned for delivering over 250 live music events per annum for the past ten years. Loton is backed by Trinad Capital, a micro-cap and small-cap activist hedge fund based in Los Angeles, California. The fund is led by Robert Ellin, a seasoned portfolio manager with 25 years of investment experience. Mr. Ellin spearheaded investments in several publicly traded companies including ThQ, Grand Toys, Forward Industries (FORD), Majesco Entertainment (COOL), Command Security (MOC), Mandalay Digital Group (MNDL), iVillage (IVIL), Points International (PCOM), as well as private companies including iWon.com and SS industries.
Forward Looking Statement
Statements in this news release concerning future results from operations, financial position, economic conditions, product releases and any other statement that may be construed as a prediction of future performance or events are forward-looking statements which involve known and unknown risks, uncertainties and other factors which may cause actual results to differ materially from those expressed or implied by such statements. These factors include uncertainties as to levels of orders, ability to record revenues, release schedules, market acceptance of new products, changes in economic conditions and market demand, pricing and other activities by competitors, and other risks including those described from time to time in the Company’s filings on Forms 10K and 10Q with the Securities and Exchange Commission (SEC), press releases and other communications.
