Naples, FL, Oct. 23, 2023 (GLOBE NEWSWIRE) -- Music Licensing, Inc. (OTC: SONG), a leading player in the music industry, today announced a significant strategic initiative aimed at enhancing shareholder value. The company's CEO, Jake P. Noch, is actively exploring the possibility of returning and/or canceling up to 2.7 billion common shares to the company. This move is part of a broader effort to optimize the company's capital structure and provide increased value to its shareholders.
In conjunction with this initiative, Music Licensing, Inc. is considering the creation of a new class of non-convertible preferred shares. These preferred shares if approved could play a crucial role in maintaining the company's stability and strategic direction while providing existing management with enhanced control over the company's affairs.
Jake P. Noch, CEO of Music Licensing, Inc., expressed his enthusiasm about this strategic move, stating, "Our primary goal is to create value for our shareholders. By exploring the possibility of returning and/or canceling a significant number of common shares, we aim to streamline our capital structure and increase the earnings per share for our investors. Simultaneously, the introduction of non-convertible preferred shares will ensure stability and allowing Jake P. Noch to maintain control over the company's future direction."
Music Licensing, Inc. remains committed to its mission of empowering artists and content creators while delivering outstanding value to its shareholders. The company will keep its shareholders informed about the progress of these strategic initiatives as developments occur.
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.
Forward-Looking Statements:
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.
Non-Legal Advice Disclosure:
This press release does not constitute legal advice, and readers are advised to seek legal counsel for any legal matters or questions related to the content herein.
Contact: investors@ProMusicRights.com
SOURCE: Music Licensing, Inc.
