Wednesday, April 5, 2017

ole concludes $20m in Q1 2017 acquisitions with Bell Media deal | Music Business Worldwide


Toronto-based music rights company ole has agreed an exclusive music publishing and administration partnership for the music catalogue of Canadian TV and radio company Bell Media.

The multi-year Bell Media deal encompasses its extensive in-house audio visual catalog of more than 12,000 tracks, including television music such as “The Hockey Theme”, CTV News themes, and compositions from its roster of original programs.

The deal concludes $20 million in acquisitions for ole in the first quarter of 2017 and follows the January acquisition of Nashville-based independent music publisher Red Vinyl Music, LLC.

In September, ole secured a new $500m USD credit facility from 12 U.S. and Canadian banks led by Los Angeles-based City National Bank (“CNB”).

Shortly after, it acquired London-based rights management company Compact Media.

ole is reportedly looking for re-capitalization, with the company looking for suitors to place minimum bids of at least $650 million to enter the process and seeking an overall valuation of $800 million, according to Billboard.

“With our extensive music catalog, this is a great opportunity for us to grow its use internationally and capture new revenue streams.”

tyson parker, bell media

Tyson Parker, Head of Artist and Music Industry Relations, Bell Media said: “With our extensive music catalog, this is a great opportunity for us to grow its use internationally and capture new revenue streams.”

Robert Ott (pictured, Chairman and CEO of ole added: “ole is very pleased to be working with Bell Media and its world-class content production teams.

“I look forward to adding value to what this talented team is creating.”

Bell Media is part of communications company, BCE Inc.

It owns 30 television stations led by CTV, 30 specialty channels and four pay TV services.

It is also Canada’s largest radio broadcaster, with 215 music channels including 105 licensed radio stations in 54 markets across the country, which are all part of the iHeartRadio brand and streaming service.

In addition, its outdoor advertising company Astral Out of Home has a network of more than 30,000 advertising faces in British Columbia, Alberta, Ontario, Qu├ębec, and Nova Scotia.

Other assets under Bell Media include 200 websites, video streaming services CraveTV and GO, multi-channel network Much Digital Studios, and a multi-platform production firm Dome Productions.

Music Business Worldwide

[from http://ift.tt/2kVf04A]

No comments: