LURG News .155 Ludwig Enterprises to License Canad
Post# of 144498
LURG News .155 Ludwig Enterprises to License Canadian Operation
2012-06-11 08:00 ET - News Release
POMPANO BEACH, Fla., June 11, 2012 /PRNewswire/ -- Ludwig Enterprises, Inc. (OTC: LUDG) Board of Directors announces it has reached a 10 year multi-million dollar licensing agreement for deployment of Ludwig's Technology into the Canadian Market.
Multiple Canadian Television stations are by law scheduled to permanently turn off their analogue transmitters on December 31, 2012 as Canadian Television convert to the ATSC broadcast standard. This standard is the foundation of Ludwig's revolutionary technology.
Under terms of the agreement Worthington Financial Services, Inc. has agreed to purchase licensing rights to the patented technology owned by Ludwig for the transmission of 50 audio channels over the new digital TV networks within Canada, called "TheOne™" radio. Initial projections indicate that upon completion of network build-out Ludwig should receive approximately $18 million per year in licensing fees.
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