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News: General

New Entertainment Company Gives Small Share Owners A Say

Wednesday, August 3, 2016   (0 Comments)
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From the Los Angeles Times:

Crowdfunding isn’t new to entertainment. A number of filmmakers have used sites such as Kickstarter and Indiegogo to finance movies. In return, fans might get T-shirts or DVDs of the film. With Legion M, however, fans can buy a stake in the company’s success — or failure — for $7 a share.

The Emeryville, Calif., company was recently launched by Jeff Annison and Paul Scanlan, both Emmy winners with years of experience in the entertainment business. They previously worked at MobiTV, which supplies video to mobile devices, and New York Rock Exchange, a service that allows consumers to co-own music with artists…

Although Legion M is not a publicly traded company, anyone can buy shares in the company. Once purchased, an investor’s shares are legally locked for a year, after which they can be freely sold. The shares are expected to be traded on a formal exchange like other stocks though a central trading platform has yet to be established.

- Read the full article at LATimes.com



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