Loop Media, Inc. Announces Board and Management Changes
October 05, 2021 at 04:16 pm EDT
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Loop Media, Inc. announced that on September 29, 2021, the Board of Directors increased the size of the Board of Directors from two to four directors and appointed Denise M. Penz and Sonya Zilka to serve as directors to fill the newly created vacancies. Each of Ms. Penz's and Ms. Zilka's terms will begin on October 1, 2021 and each will serve until the Company's next annual meeting of stockholders where they will each stand for reelection to the Board of Directors. In connection with these director appointments, the Company plans to establish an Audit Committee, with Ms. Penz as Chairperson, a Compensation Committee, with Ms. Zilka as Chairperson, and a Nominating and Corporate Governance Committee. On September 29, 2021, Jim Cerna resigned as the Company's Chief Financial Officer and was appointed as the Company's Head of Strategic Initiatives, pursuant to a letter agreement. Under the terms of the Letter Agreement, Mr. Cerna will assist the Company's transition to its new Chief Financial Officer as well as assist the Company in evaluating certain strategic business opportunities.
Loop Media, Inc. is a multichannel digital video platform media company that uses marketing technology to offer its services. Its technology and library of videos and licensed content enables it to curate and distribute short-form videos to out-of-home (OOH) dining, hospitality, retail, convenience stores and other locations and venues to enable them to inform, entertain and engage their customers. Its technology provides third-party advertisers with a targeted marketing and promotional tool for their products and services and, in certain instances, allows it to measure the number of potential viewers of such advertising and promotional materials. It distributes its content and advertising inventory to digital screens located in OOH locations primarily through its owned and operated platform of Loop Media-designed small-box streaming Android media players (Loop Players) and legacy ScreenPlay computers, and through screens on digital platforms owned and operated by third parties.
LOOP MEDIA, INC. 
