MONTREAL – Music services provider Stingray Digital announced Friday that is buying all of the assets from Mood Media Latin America’s residential digital music service, known as DMX Media. Financial terms of the deal were not disclosed.
Based in Miami, DMX Media offers music channels tailored to local tastes through Pay TV service providers in Mexico, the Caribbean, and in Central and South America. DMX Media’s services will continue to be offered to existing customers for now, and the integration of the company and its management structure will begin immediately.
“DMX Media Latin America is an ideal fit for us, since there are numerous opportunities for synergy between our respective platforms and services”, said Stingray president and CEO Eric Boyko, in the announcement. “Together with our existing Latin America business, this acquisition will allow us to expand and further strengthen our presence in one of the fastest growing TV cable and broadband services markets in the world.”
Stingray Digital now has more than 100 million subscribers in 113 countries worldwide.
