Loton Corp has entered into a non-binding Letter of Intent to sell its 50% interest in live music venue Koko, located in Camden, London.

As part of the proposed transaction, Loton’s wholly-owned subsidiary, LiveXLive, a new live music streaming platform, will enter into a three-year agreement for certain exclusive digital broadcast rights of Koko events.

“We are strategically positioning ourselves away from owning and operating venues toward the focus of securing rights, owning and distributing digital content, and becoming a ...