Music Licensing, Inc. (OTC: SONG) Achieves Historic Milestone: 77.5% Reduction in Outstanding Common Stock Shares and Acquisition of Iconic Royalty Stakes
Naples Florida, Nov. 28, 2023 (GLOBE NEWSWIRE) — Music Licensing, Inc. (OTC: SONG), a trailblazer in the music industry, proudly announces a dual achievement, marking a significant milestone for the company’s growth and commitment to shareholder value.
Outstanding Common Stock Shares Reduction:
Music Licensing, Inc. has successfully completed a remarkable 77.5% reduction in outstanding common stock shares, following the earlier extraordinary reduction of authorized common stock shares by 90%. This strategic move exemplifies the company’s dedication to optimizing its capital structure and fortifying shareholder value. The proactive management of authorized and outstanding shares positions the company for sustained growth and financial strength within the dynamic music industry.
Jake P. Noch, Chief Executive Officer & Chairman of the Board of Directors, commented, “This 77.5% reduction in outstanding common stock shares is a significant milestone for Music Licensing, Inc. Our focus on optimizing our capital structure underscores our commitment to creating long-term value for shareholders. We believe that this initiative will contribute to a more robust and efficient financial framework, ultimately benefiting our investors and stakeholders.”
Acquisition of Iconic Royalty Stakes:
In a historic move on November 23, 2023, Music Licensing, Inc. achieved another milestone through the acquisition of substantial royalty stakes. The acquired rights include Mechanical Rights, Public Performance Rights, and Sync Rights for iconic works by globally renowned artists such as Elton John, Miley Cyrus, Lil Wayne, Lil Nas X, XXXTENTACION, and Halsey.
This strategic acquisition highlights Music Licensing, Inc.’s commitment to innovation and the dynamic diversification of revenue streams within the music industry. The administration of these acquired rights will be handled by the esteemed Kobalt Music Group, mitigating potential antitrust issues.
Jake P. Noch added, “This victorious acquisition not only positions Music Licensing, Inc. as an industry leader but also establishes new standards for positive growth and unparalleled success. Our commitment to elevating the music industry is underscored by this significant and strategic move.”
Future Plans, Diversification, and Opportunistic Approach:
In addition to the reduction in outstanding common stock shares and the acquisition of royalty stakes, Music Licensing, Inc. is pleased to announce its future plans for a buyback program. The company is actively exploring opportunities to repurchase its common stock, further demonstrating confidence in the business and commitment to delivering value to shareholders.
As Music Licensing, Inc. continues to execute on its strategic initiatives, including the reduction in outstanding common stock, potential buyback plans, and the acquisition of royalty stakes, the company remains focused on driving innovation and growth within the music industry. Additionally, the company aims to diversify its revenue streams by taking an opportunistic approach to investment opportunities.
Buyback Plan Funding and Licensing Enforcement Campaign:
The buyback plan will be funded with 25% of the net proceeds from its licensing enforcement and collection campaign, currently underway. Demand letters are expected to go out today, marking a significant step in the company’s commitment to protecting its intellectual property and creating value for shareholders.
About Music Licensing, Inc. (OTC: SONG) (ProMusicRights.com)
Music Licensing, Inc. (OTC: SONG), also known as Pro Music Rights, is the 5th public performance rights organization (PRO) to be formed in the United States. Its licensees include notable companies such as TikTok, iHeart Media, Triller, Napster, 7Digital, Vevo, and many others. Pro Music Rights holds an estimated market share of 7.4% in the United States, representing over 2,500,000 works that feature notable artists such as A$AP Rocky, Wiz Khalifa, Pharrell, Young Jeezy, Juelz Santana, Lil Yachty, MoneyBagg Yo, Larry June, Trae Pound, Sause Walka, Trae Tha Truth, Sosamann, Soulja Boy, Lex Luger, Trauma Tone, Lud Foe, SlowBucks, Gunplay, OG Maco, Rich The Kid, Fat Trel, Young Scooter, Nipsey Hussle, Famous Dex, Boosie Badazz, Shy Glizzy, 2 Chainz, Migos, Gucci Mane, Young Dolph, Trinidad James, Chingy, Lil Gnar, 3OhBlack, Curren$y, Fall Out Boy, Money Man, Dej Loaf, Lil Uzi Vert, and countless others, as well as Artificial Intelligence (A.I.) Created Music.
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that, all forward-looking statements involve risks and uncertainties, including without limitation, the ability of Music Licensing, Inc. & Pro Music Rights, Inc. to accomplish its stated plan of business. Music Licensing, Inc. & Pro Music Rights, Inc. believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by Pro Music Rights, Inc., Music Licensing, Inc., or any other person.
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SOURCE: Music Licensing, Inc.
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