Loop Media Acquires Podcast App, Forms Subsidiary
San Fernando Valley Business Journal
Loop Media Inc. has signed an agreement to acquire Spkr, an app that curates podcast lists and makes recommendations for listeners.
Financial terms of the deal were not disclosed.
The Glendale short-form video distribution company will create a subsidiary headed by Spkr founder Andy Schuon, also a former head of programming at MTV and VH1 and a co-developer of Revolt TV.
Called Loop Media Studios, the division will oversee content and programming creation and acquisitions at Loop Media for both business and consumer markets.
Loop Chief Executive Jon Niermann said in a statement the company is fortunate to welcome Schuon.
“Very few execs have the depth of relevant experience that Andy has had in his career as it relates to Loop’s focus and potential,” he said. “With the acquisition of Spkr and the formation of our Loop Media Studios, we are setting the foundation for strong content expansion that will help our B2B and D2C platforms scale even more efficiently and aggressively.”
Loop Media distributes a library of 500,000 music videos plus film, television and game trailers that it makes available to restaurants, bars, casinos, cruise ships and other public venues.