Announced
Completed
Financials
Tags
Friendly
Entertainment
music production
United Kingdom
Private
Acquisition
Completed
music publishing
entertainment
Single Bidder
Private Equity
Synopsis
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.
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