4Licensing Corporation Announces 4LC Sports & Entertainment, Inc.
An Innovative Sports and Entertainment Licensing Subsidiary
NEW YORK--(BUSINESS WIRE)-- 4Licensing Corporation (OTC Link: FOUR) is proud to announce the launch of 4LC Sports & Entertainment, Inc., a wholly-owned subsidiary of 4Licensing Corporation ("4LC") specializing in the end-to-end development of licensed products and programs for the sports and entertainment industries.
Initially, the focus of 4LC Sports & Entertainment will be on the development of licensed apparel, merchandise and collectibles; partnering with brands to develop private label merchandise and accessories; and creating, developing and producing branded entertainment vehicles that provide product placement opportunities and promotional platforms to drive incremental sales.
"The addition of sports and entertainment licensing is a perfect complement to our existing children's entertainment and brand-building business," said Bruce Foster, Interim CEO of 4LC. "With the combined support of a strong management team and an engaged Board of Directors, 4LC Sports & Entertainment is positioned to evolve into an innovative licensing company in the world of sports and entertainment."
Mark Panko has been selected by the Board of Directors of 4Licensing Corporation to lead this new subsidiary as President. Mr. Panko brings close to 20 years of experience as an industry insider and he is recognized for his inherent ability to generate and develop new revenue, even under the toughest of circumstances.
Panko's diverse background includes various consulting and leadership roles on both the agency and team sides of the business. He co-founded and served as Principal of The Sports Group, which became widely known for its work with the Heisman Trophy, and the establishment of the marketing and licensing rights holding entity, Heisman Winners Association. Prior to that, as Director of Strategic Sales for the NBA's Dallas Mavericks, Panko established league-wide sales marks. He holds a Masters degree in Sports Management from The Ohio State University and serves as an Adjunct Professor at the University of Dallas in their College of Business - Graduate School of Management.
"I couldn't be more excited to join the team at 4Licensing Corporation," Panko said. "This is a tremendous opportunity to leverage 4LC's rich licensing history with some of the most iconic children's properties to also become a leader in sports and entertainment licensing."
About 4Licensing Corporation (4LC) is a licensing company specializing in youth-oriented markets and specialty brands. Through its subsidiaries, 4LC licenses merchandising rights to popular children's television series, properties and product concepts; builds brands through licensing; develops ideas and concepts for licensing; and has begun to forge new license relationships in the sports licensing industry and in developing private label goods to be sold to retail or directly to consumers.
The information contained in this press release, other than historical information, consists of forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may involve risks and uncertainties that could cause actual results to differ materially from those described in such statements. Although the company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Important factors beyond the 4LC's control, including general economic conditions, consumer spending levels, competition from toy companies, motion picture studios and other licensing companies, the uncertainty of public response to the company's properties and other factors could cause actual results to differ materially from 4LC's expectations.
Lynda Pandolfo, 646-822-4208
KEYWORDS: United States North America New York
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