Stingray Digital Buys European Music Broadcaster, Musicoola
Stingray Digital, owner of Galaxie Music Service and The Karaoke Channel, plans to acquire Tel-Aviv-based music broadcaster, Musicoola.
This is the eighth acquisition for the Montreal-headquartered multi-channel music operator, since it formed in 2007.
Musicoola provides a full suite of linear music channels to television service providers in Israel, Angola, Hungary and Romania and will continue to offer services to existing customers.
Eric Boyko, President and CEO of Stingray Digital, said: “As part of our plan for global expansion, we are continuously seeking strategic acquisitions that fit with the Stingray Digital model and allow us to further expand the distribution of our various music-related properties.”
Boyko continues: “Musicoola is an ideal fit for us, since there are ample opportunities for synergies between our respective platforms and services. This acquisition will allow us to expand our product offering to new customers in new countries, strengthening our presence in the Middle East and Africa, while deepening our penetration of the European market.”
Stingray also owns European digital music pioneer Music Choice and Video-on-Demand channel, Concert TV. Stingray provides music services to cable, IPTV and satellite television service providers worldwide and now has more than 75 million subscribers in 51 countries.
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