Loton has signed a non-binding letter of intent to acquire the FilmOn.TV Networks
, which holds a License and Franchise Agreement for The Americas from FilmOn.com
, the internet-based, high-definition television IPTV service provider with properties in the U.S. and Europe. The letter of intent is subject to due diligence and negotiation of a definitive acquisition agreement, and certain other conditions, and is exclusive to Loton for 60 days. If the transaction is completed, Loton will merge with FilmOn.
FilmOn delivers high-quality subscription-based television services to IP-enabled devices including TVs, set-top boxes, PCs, mobile phones, and tablets across a proprietary delivery platform connected to datacenters in London, Amsterdam, Geneva, New York and Los Angeles.