MONTREAL – Stingray Digital Group is buying music video channels MuchLoud, MuchRetro, MuchVibe and Juicebox from Bell Media, the companies announced early Tuesday morning. Financial terms of the deal were not disclosed.
Stingray called the four specialty services a “valuable addition” to its slate of TV music services that already includes Stingray Ambiance, Stingray Lite TV, Stingray Concerts plus the recently acquired Brava and Djazz. Upon completion of the transaction, expected in the third quarter of this year, the channels will be rebranded and relaunched under the Stingray brand.
“In an industry where consolidation is the watchword, and where growth and scale define success, the acquisition of premium quality music content is our primary strategy,” said Stingray president, co-founder and CEO Eric Boyko, in the announcement. “I am thrilled to have come to an agreement with Bell Media to acquire MuchLoud, MuchRetro, MuchVibe and Juicebox. This transaction with Bell Media paves the way for independent media companies like Stingray to propel their global expansion.”
MuchLoud caters to fans of hard music such as alternative, metal and punk music; MuchRetro features classic music videos and related programs; MuchVibe is devoted to hip-hop, R&B, soul and reggae music; and kid-focussed Juicebox offers parent-approved music videos from today’s biggest stars.
While no purchase price was included in the announcement, it is believed to be modest. The four channels together made $2.4M in revenue in the 2014 broadcast year, according to CRTC filings.
Bell Media president Mary Ann Turcke said that the transaction “helps foster a more competitive broadcast environment and ultimately creates more choice for consumers by capitalizing on both companies’ strengths”.
“Divesting these channels enables us to focus our resources on Bell Media’s leading slate of specialty services while maintaining our Music First commitment with our portfolio of radio, TV, and digital platforms, including the upcoming launch of iHeartRadio in Canada”, Turcke continued.
