Anghami, the leading music-streaming service for residents of North Africa and the Middle East, claims to be fielding multiple equity-investment offers and acquisition proposals. In a recent interview, Anghami co-founder Elie Habib confirmed previous reports that his company is evaluating investment and buyout bids. Specifically, Habib said that Anghami has “been approached by multiple parties” and that he […]
Spotify’s recent acquisition of The Ringer, a sports and pop culture website and podcast network, cost approximately $250 million. Exact sales figures are expected to be publicly released in an upcoming SEC filing. According to an anonymous source spilling the beans to Bloomberg, however, Spotify will provide $200 million upfront, and the remaining $50 million […]
Live-streaming concert and original content platform LiveXLive has acquired React Presents, an organizer and promoter of EDM concerts. The deal came at a price of $2 million, according to the companies. The sum was funded with a convertible subordinate note, a type of debt security that can be leveraged against stock. It was also revealed […]
SaaS-based payments processing firm Exactuals has acquired Backlash Solutions, a digital music company that specializes in helping industry professionals organize data and more efficiently calculate royalties. As part of the deal, Backlash President and CEO Joe DeCanio and his current employees are in the process of opening a new office in New York City, which […]
Sony/ATV has found its new Nashville CEO after an acquisition. Rusty Gaston will serve as CEO effective immediately. Sony/ATV also acquired THiS Music, which Gaston co-founded with Tim Nichols and Connie Harrington. Gaston succeeds Troy Tomlinson, who left Sony/ATV to join Universal back in June 2019. Gaston will report to Jon Platt, Chairman, and CEO […]
Photo Credit: Eventim CTS Eventim has struck a deal to buy a majority stake in Gadget Entertainment and wepromote. The move will help Eventim expand into Switzerland. CTS Eventim is a live entertainment and ticketing giant in Europe. The company is acquiring a 60% stake in both companies. Gadget Entertainment is based in Zurich, while […]
Spotify’s interest in acquiring The Ringer, a sports and popular culture website and podcast network, came as a surprise to many—including Ringer employees, who learned of the news just like everyone else did: through a report published by The Wall Street Journal on January 17th. Today, The Ringer’s team members issued a public response to […]
FUGA CEO Pieter van Rijn Downtown Music Holdings’s AVL Digital Group has acquired FUGA, an Amsterdam-based digital music distributor and service provider. The purchase, which was announced publicly this morning (January 22nd), is the latest in a series of aggressive, growth-minded investments from Downtown. In March of 2019, the company finalized an estimated $200 million […]
In the wake of analysts from both Evercore and Bernstein giving Spotify an underperform rating, the Wall Street Journal is reporting that the company is in early talks to acquire a podcasting network called the Ringer. With many in the industry projecting that podcasting will become the next big thing in streaming, Spotify has increasingly […]