STX Entertainment has acquired Lalela Music, a production music library for film, TV and other media. No financial terms were disclosed. STX’s backers include TPG, Hony Capital, Tencent Holdings and DNS Capital.
LOS ANGELES, Aug. 10, 2017 /PRNewswire/ — STX Entertainment today announced the acquisition of Lalela Music, a preeminent production music library for film, TV and other media. Terms of the deal were not disclosed.
Founded in 2009, Lalela Music is a production music library featuring top global composing talent. Its 28,000 cues have been used on major networks (CBS, NBC, ABC and BBC), top shows (American Idol, Real Housewives of Beverly Hills and Catfish, among others), as well as premium cable networks HBO, Bravo, E!, MTV and Discovery, and in PlayStation 3 games. It has enjoyed millions of performances on international TV networks, and has also been used in ads for premium brands such as Coca-Cola and McDonald’s, among others. The catalog is broad-ranging and diverse, featuring 260 albums that include a large collection of intense epic action music suitable for film trailers, as well as music for dramatic, comedy and reality underscore, and instrumental rock, pop, hip hop and house. The library also includes a number of unique African tracks.
In announcing the acquisition, Tom McGrath, Chief Operating Officer of STX Entertainment said, “We are delighted to welcome Alan Lazar and the many top rank composers who constitute the Lalela catalog to STX. Music is an increasingly important factor in the success of film and television and we believe will be even more so in the new emerging markets for Virtual Reality, non-linear video and social media-based programming. Lalela will be the foundation on which we build our production music library.”
With the acquisition, Alan Lazar, the current head of Lalela Music, will continue in this role and join STX Entertainment as Senior Director, Catalog Music, reporting to Jason Markey, STX Executive Vice President and Head of Music. Markey added, “I am pleased to announce this acquisition and the newly created music catalog division within STX Entertainment. The opportunities to collaborate musically with every group at STX holds limitless prospects. I am particularly pleased that my longtime friend Alan is joining our family and helping us build this business.”
Lazar added, “I am very proud and excited to be working with STX and their music team to take the Lalela catalog to a whole new level. I look forward to continuing the relentless focus on creating excellent music composed by today’s best composers for audiences around the world.”
In addition to providing music for STX’s many production units, the Lalela catalog is available for third party licensing.
Please visit the web site www.lalela.com for further information.
ABOUT STX ENTERTAINMENT
STX Entertainment is a global next-generation media company whose mission is to unlock the value of the direct connection stars have with their fans through the development, financing, production, marketing and distribution of film, television, VR, digital video, music and live entertainment content. It is the industry leader in transforming beyond traditional platform-driven content to creating talent-driven enterprises.
The company is led by accomplished businessman Robert Simonds and was co-founded by Bill McGlashan, managing partner of the leading global private investment firm TPG. Other investors include Hony Capital, a leading private equity firm in China; PCCW, Southeast Asia’s largest Internet and cable services provider; Tencent Holdings, China’s leading provider of online products and services; Dominic Ng, Chairman of East West Bank; DNS Capital (representing the business interests of Gigi Pritzker and her immediate family); and Beau Wrigley, former Chairman and CEO of the Wm. Wrigley Jr. Company, among others. With these strategic relationships, the company is uniquely positioned to maximize the impact of content worldwide, with direct passage into the China market.
For more information, please visit https://www.stxentertainment.com/.