Entertainment One completed the acquisition of Audio Network for £178m.

eOne,a global independent studio that specializes in the development, acquisition, production, financing, distribution, and sales of entertainment content, completed the acquisition of 100% of the shares of Audio Network, a UK based independent creator and publisher of original high-quality music, for an aggregate consideration of approximately £178m, including cash and cash equivalents net of working capital items, interest, and other transaction adjustments, acquired at completion, of approximately £13m. The consideration will be satisfied by the payment of approximately £169m in cash and by the issue of eOne common shares to key management shareholders of Audio Network on Completion, equating to c. £9m. "The combination of eOne's front-end commercial artist catalog and Audio Network's premium diversified music catalog creates a one-stop solution for business customers seeking high-quality music," Darren Throop, eOne's Group Chief Executive.