MUMBAI: Stingray Digital, a Montreal-based provider of music services to multi-channel operators, announced today from MIPTV in Cannes, France, that it has entered into an agreement to purchase Music Choice Europe Limited from a European private investment group for an undisclosed sum.
Music Choice Europe, founded in 1993 and based in London, England, offers over 70 different commercial-free music channels delivered to more than 10 million subscribers through television service operators in 17 countries across Europe and Africa. In addition to the professionally programmed linear music channels, Music Choice Europe also offers a multi-platform solution to operators including music videos on demand and a service delivered by broadband.
“This acquisition is a perfect strategic fit for Stingray” stated Eric Boyko, President and CEO of Stingray Digital. “We will immediately benefit from synergies between the two companies, but more importantly, Music Choice Europe’s presence in 17 different countries will allow us to expand more quickly into Europe and Africa with our other music services that we have developed for the North American market including The KARAOKE Channel and Concert TV” he added.
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“Music Choice has been actively growing its subscriber base and geographic reach over the past several years”, said Mark Wilson, President of Music Choice Europe. “Now as part of the Stingray Digital group of companies, Music Choice will be able to continue its growth by providing a greater variety of music-related services to current and future customers,” he added.
Stingray Digital’s acquisition of Music Choice Europe will create a true global music broadcaster that serves a digital music service to more than 20 million subscribers in more than 30 countries across Europe, Africa, North America, South America, the Caribbean and beyond. Stingray Digital is an innovative broadcaster who invests heavily in research and development in order to remain at the cutting edge of technology required to deliver a compelling music service to customers around the world.
Stingray Digital owns and operates the Galaxie Music service which is available in all digital cable, IPTV and satellite television households in Canada and an increasing presence in the US, the Caribbean and other countries. Galaxie, Your Musical Universe, is more than 50 commercial-free music channels on TV and on authenticated broadband services, and soon on mobile devices.
