MONTREAL, QUÉBEC--(Marketwired - July 31, 2015) - Stingray Digital Group Inc.(TSX:RAY.A)(TSX:RAY.B), a leading business-to-business multi-platform music and in-store media solutions provider, today announced that it has closed the previously announced transaction with the Brava TV Group.
The transaction entailed the acquisition of all of the issued and outstanding shares in the share capital of Brava NL BV, Brava HDTV BV and Djazz TV BV, distributors of three successful thematic channels dedicated to high-end music and cultural content.
Both parties approved the terms of the acquisition. As previously announced on July 23rd, Stingray will fully own and operate the TV music channels Brava NL, Brava HD, and DJAZZ.tv.
"Today marks an exciting day in Stingray's history," said Eric Boyko, President, CEO and Founder of Stingray. "With the acquisition of Brava NL, Brava HD, and DJAZZ.tv, we significantly increase our ability to provide the highest quality content to classical music and jazz connoisseurs worldwide."
Channel details
Brava NL and Brava HD
The world's only music channels dedicated to programming live opera, ballet, and classical music performances. Brava was the first European channel to broadcast in HD and Dolby Digital Audio sound quality. For more information: https://www.bravahd.com/
DJAZZ.tv
The first and only channel in the world dedicated to jazz and related music genres. The channel's programming consists of live jazz, funk, reggae, soul, gospel, blues and world music performances as well as portraits, films and documentaries. For more information http://www.djazz.tv/
All three sister channels present content without talk, advertising or interruptions.
About Stingray
Stingray Digital Group Inc. (TSX:RAY.A)(TSX:RAY.B) is a leading business-to-business multi-platform music and in-store media solutions provider operating on a global scale, reaching an estimated 110 million Pay-TV subscribers (or households) in 111 countries. Geared towards individuals and businesses alike, Stingray's products include the following leading digital music and video services: Stingray Music, Stingray Concerts, Stingray Music Videos, Stingray Lite TV, Stingray Ambiance and Stingray Karaoke. Stingray also offers various business solutions, including music and digital display-based solutions through its Stingray Business division. Stingray is headquartered in Montreal and currently has over 235 employees across the world, including in Toronto, Miami, London, Amsterdam and Tel Aviv. Stingray was recognized in 2013 and 2014 as a finalist in the Top 50 of Deloitte's Technology Fast 50™ list, and figures amongst PROFIT magazine's fastest-growing Canadian companies. For more information, please visit www.stingray.com.