Stingray Digital Group has agreed to buy Dutch broadcaster Archibald Media Group. While the acquisition price was undisclosed, a report by The Globe and Mail pegged it at about $10 million. Stingray president and CEO Eric Boyko said the deal strengthens its service with the addition of music TV channels that can be offered to customers across Europe. Based in Montréal, the company produces music and video content on multiple platforms, including digital TV, IPTV, the Internet, mobile apps and game consoles. Stingray was discussed in a recent profile of its Canadian private equity investor Novacap. It is also backed by Canadian technology investor Telesystem.
Stingray Digital Acquires Dutch Broadcaster Archibald Media Group
Adds 4 million customers to its music TV channel services by increasing its presence in the Benelux market
MONTREAL, QUEBEC–(Marketwired – June 13, 2014) – Stingray Digital, the leading provider of multiplatform music services for Pay-TV operators worldwide announced today it has entered into an agreement to acquire Archibald Media Group of Amsterdam, The Netherlands. Archibald Media Group owns and operates three TV services: LiteTV, 100% NL TV and XLNT Radio. 100% NL TV is a joint venture with RadioCorp, a local media company.
“We have been committed to serving the European market since our acquisition of Music Choice International back in 2011,” stated Eric Boyko, President and CEO of Stingray Digital. “This latest acquisition strengthens our service offering with the addition of music TV channels that we will offer to our many customers across Europe. This will also allow us to be closer to many of our most important partners and provide even greater local market expertise, now with an operation in Amsterdam,” Mr. Boyko added.
“Stingray is the perfect company to acquire the services we have launched and grown over the years,” commented Robert Herder, President of Archibald Media Group. “Stingray brings multi-national scale in content acquisition and product innovation that can be combined with our local-market music knowledge and television channel programming expertise resulting in improved products and service for existing and new customers,” Herder concluded.
Archibald Media Group programs and distributes the music channels XLNT Radio through major Pay-TV operators such as Ziggo and KPN in the Netherlands and Telenet in Belgium. LiteTV is a 24/7 music video channel for the adult pop music enthusiast and can be found on Ziggo, UPC, Delta, Vodafone and many more. 100% NL TV is a television channel featuring the best of Dutch music and is available from several Pay-TV operators as well. Archibald’s various television properties reach approximately 4 million customers across the Benelux region.
About Stingray Digital Group
Stingray Digital is the leading multi-platform music service provider in the world, with more than 100 million subscribers in 113 countries around the world. Geared towards individuals and businesses alike, the company’s commercial entities include leading digital music and video services Galaxie, Music Choice International, Concert TV and The KARAOKE Channel. The company also offers various business solutions, including sensory marketing solutions via its Stingray360 division and music licensing services through Stingray Music.
Majority-owned by Telesystem, Novacap and Boyko Investment Corporation, Stingray Digital is headquartered in Montreal and has over 200 employees in offices across Canada, as well as additional offices in Los Angeles, Miami, London and Tel Aviv. The company stood out in 2013 by ranking 15th on Deloitte’s Technology Fast 50mc list, and figuring amongst PROFIT magazine’s fastest growing Canadian companies. For more information, please visit www.stingraydigital.com.
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