Loop Media, Inc. Acquires a Minority Equity Interest in EON Media Group Pte. Ltd. and Its Asia Pop 40 Syndicated Radio Network

Loop Media, Inc., (“Loop Media”), the first media company that gives consumers and businesses fully integrated 360-degree music video and other premium short-form content experiences announced that it has entered into a transaction with Ithaca Holdings, LLC., a fully integrated holding company, led by SB Projects’ Scott “Scooter” Braun, with interests across music, tech, film, television, brands and culture. The transaction resulted in Loop Media acquiring a 20% equity interest in EON Media Group Pte. Ltd. for consideration of cash and Loop Media common stock.

As a result of the transaction, Ithaca Holdings has become a shareholder in Loop Media and SB Projects, Braun, Allison Kaye, President of SB Projects & Partner, Ithaca Holdings, LLC and Jennifer McDaniels, SB Projects General Manager of Music will become advisors to Loop Media, providing input on Loop Media’s strategic focus and growth initiatives. EON Media Group Pte. Ltd. is a Singapore based media and entertainment company focused on producing syndicated content and providing specialist entertainment advisory and agency services for music festivals, brands and artists.

Marketing Technology News: eBay Names Julie Loeger Global Chief Growth Officer

EON Media Group was founded by its CEO, Australian music and media executive Rob Graham, who created the weekly syndicated music program, Asia Pop 40 which launched on one station in Singapore in July 2013. http://asiapop40.com Since then, the show has grown to be aired in over 100 markets and reaching over one billion people in the Middle East, Asia and Australia/New Zealand. The show also recognizes the most popular local and international artists and songs each year. EON Media Group provides advisory services for companies and artists looking to reach Asian markets as well as music publishing, synchronization and brand endorsement services.

Loop’s equity interest in EON Media presents an opportunity for Loop to gain a foothold in Asia as Loop considers the international expansion of its business.

Marketing Technology News: Medallia Named a Leader in Gartner Magic Quadrant for Voice of the Customer

“The opportunity to have Scooter, Allison and Jen and their combined expertise and experience involved so closely with Loop is invaluable for the company. In addition, I was fortunate to have spent almost 15 years leading the businesses in Asia for The Walt Disney Company and Electronic Arts and am looking forward to putting that knowledge and experience to work for Loop in that part of the world through our minority interest in EON Media,” said Jon Niermann, CEO and Co-Founder of Loop Media.

“In 2015, we invested in EON Media when they were only in about a dozen countries, so we’ve been part of their strong distribution growth. As a shareholder of Loop we will continue to indirectly benefit from Loop’s participation in EON Media’s business through the equity interest which we sold to Loop,” said Scooter Braun. “Loop Media has created a viable and attractive new music video platform resulting in a powerful music consumer experience.”

Rob Graham added, “I am looking forward to working closely with Jon and the Loop Media team. It’s the perfect time for us to continue to build on our achievements in Asia and beyond by leveraging our unparalleled Asian market experience with Loop’s incredible tech-based resources.” Rob will work closely with the Loop team in his ongoing role as CEO of EON Media Group. “Our content has significant reach across one of the most important regions in the world, and we look forward to continued growth with our new relationship with Loop Media.”

Marketing Technology News: What Slack’s Entry into Salesforce Family Means for Enterprise App Community