MONTREAL – Stingray Digital is buying Dutch broadcaster Archibald Media Group, a move that will add 4 million customers to its music TV channel services by increasing its presence in the Benelux market, the company announced Friday. Financial terms of the deal were not disclosed.
Archibald Media Group owns and operates three TV services: LiteTV, 100% NL TV and XLNT Radio. 100% NL TV is a joint venture with RadioCorp, a local media company.
“We have been committed to serving the European market since our acquisition of Music Choice International back in 2011,” said Stingray president and CEO, Eric Boyko, in the news release. “This latest acquisition strengthens our service offering with the addition of music TV channels that we will offer to our many customers across Europe. This will also allow us to be closer to many of our most important partners and provide even greater local market expertise, now with an operation in Amsterdam.”
“Stingray is the perfect company to acquire the services we have launched and grown over the years,” added Robert Herder, president of Archibald Media Group. “Stingray brings multi-national scale in content acquisition and product innovation that can be combined with our local-market music knowledge and television channel programming expertise resulting in improved products and service for existing and new customers.”
Stingray Digital has more than 100 million subscribers in 113 countries worldwide.
