Loton, Corp. (OTC Pink: LTNR) announced that it has entered into an agreement with Elevated Networks for its FestreamTV platform. Elevated Chairman Andy Schuon, who co-founded REVOLT Media TV with Sean "Diddy" Combs, will lend his expertise in brand building and content creation to the project.
Mr. Schuon brings decades of experience to Loton and FestreamTV. He is co-founder of REVOLT Media TV. REVOLT is one of the fastest growing multi-platform networks in traditional, mobile and social media distribution. After leading the world famous KROQ-FM Los Angeles as program director, and MTV, MTV2, and VH1 as Executive Vice President, Programming and Production earlier in his career, Mr. Schuon was CEO of pioneering Sony/Universal online music subscription service Pressplay (re-named Napster). He worked with the world's top artists as Executive Vice President/General Manager of Warner Bros. Records, was the head of digital and President, Artist Services at Live Nation/Ticketmaster, President of Infinity Broadcasting (now CBS Radio) and has served on the boards of Premiere Networks, Hot Topic Stores, iLike.com, and Coinstar/Redbox's new ventures.
"Andy is one of the leading visionaries in the entertainment industry. He has extensive experience in programming, networks and distribution and adds to the world class Loton team. He is a tremendous talent that we're thrilled to have working with us," commented Robert Ellin, Executive Chairman and President of Loton, Corp. "With the combined skills of our team, we are now in position to continue to build and buy assets in the music, entertainment, and technology space." "The team that Rob is attracting to FestreamTV is truly extraordinary," Elevated Networks Chairman Andy Schuon remarked. "I'm thrilled to be part of it, and look forward to helping shape Rob's vision for the business and aid in the launch of FestreamTV's platform this summer. FestreamTV fits squarely within my company's mission, and my personal passion which is to be on the leading edge of monetizing and presenting music and media content across all platforms."
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.
About Elevated Networks
Elevated Networks was born out of necessity. Its founder Andy Schuon was constantly being asked to help brands and media companies. Eventually he took all of his relationships and experiences at MTV, VH1, KROQ-FM Los Angeles, CBS Radio, Warner Bros. Records, Vivendi-Universal, and many other entertainment companies, and put them to work amassing a portfolio of owned and operated businesses and partner relationships.
Elevated Networks creates brands and content, and manages programming, production and strategy for every video and audio platform.
Elevated owns and operates Elevated Music Group which is a fully licensed background music service broadcast to hotel-casino, restaurant, and retail locations in several countries. In addition, Elevated Networks has interests in cable television, mobile video applications, and a platform that allows artists and brands to maintain and grow their connection and commerce opportunities directly with their fans. This year Elevated is focused on OTT "Over The Top" networks with several multi-platform businesses in development.
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.
Contacts:
Loton, Corp.
Robert Ellin, 310-601-2500
Executive Chairman and President
