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Tuesday, Nov 5, 2024

Loop Media Splits Stock After Reverse Merger

Loop Media Inc. has implemented a 1-for-1.5 reverse stock split of its shares after completing its previously announced reverse merger with Interlink Plus in Nevada. In February, the Business Journal reported that Loop Media, in Glendale, became a subsidiary of Interlink Plus, a publicly traded company with two business segments – travel agency assistance services and convention services, which were sold. Now Loop has become the surviving entity. Shares will continue to trade on the over-the-counter market for 20 trading days under Interlink’s ITRK ticker symbol. Thereafter, the company’s stock will trade under the new LPTV ticker. Loop Media distributes music videos, film trailers, sports programming and other short-form content to restaurants, bars, casinos, cruise ships and other public venues. “We are pleased to announce our name change to Loop Media, Inc. following our closed merger,” said Jon Niermann, chief executive, “The name change allows us to emphasize our premium Loop.tv brand and is the latest step in our efforts to increase market awareness of our innovative premium streaming media services.” Shares of Loop Media (ITRK) closed Friday at 55 cents on the over-the-counter market.

Joel Russel
Joel Russel
Joel Russell joined the Los Angeles Business Journal in 2006 as a reporter. He transferred to sister publication San Fernando Valley Business Journal in 2012 as managing editor. Since he assumed the position of editor in 2015, the Business Journal has been recognized four times as the best small-circulation tabloid business publication in the country by the Alliance of Area Business Publishers. Previously, he worked as senior editor at Hispanic Business magazine and editor of Business Mexico.

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