HomeBreakingStingray makes hostile takeover bid for...

Stingray makes hostile takeover bid for Music Choice network

Stingray Digital Group Inc. continued its growth streak this week, making an unsolicited, hostile-takeover bid for multi-platform video and music network Music Choice.

The offer is currently under review by the network’s unitholders including Charter Communications, Comcast, Cox Communications, Sony Corporation of America, Warner Media, Arris and Microsoft, and remains open for acceptance until Aug. 31.

“Music Choice would benefit greatly from joining forces with Stingray, given that we are well positioned to expand and build Music Choice’s product portfolio and distribution in the United States and around the world,” Stingray president and CEO Eric Boyko stated in a press release.

The move comes on the heels of Stingray’s commercial services division, Stingray Business, announcing the acquisition of Novramedia, a Toronto-based software/hardware developer focused on digital media solutions for industries from finance to hospitality and healthcare.

Meantime, Stingray’s acquisition of Newcap Radio parent Newfoundland Capital Corporation Limited (NCCL) for $524,297,181 remains pending with the CRTC commenting period set to close Sept. 4.

The move will see Stingray acquire Newcap’s 71 radio stations, 29 re-broadcasting entities, and two conventional television stations in seven provinces.

SUBSCRIBE NOW - IT'S FREE!

At Broadcast Dialogue®, we are committed to delivering industry-leading insights, news, and analysis directly to your inbox—completely free of charge.

By providing full / accurate information, you are helping us sustain Broadcast Dialogue® as a free resource. In return, we commit to delivering high-quality content that keeps you informed on the latest trends, technology, and news shaping the broadcast landscape—at no cost to you.

The Weekly Briefing from Broadcast Dialogue® is delivered exclusively to our subscribers by email every Thursday.
Please enable JavaScript in your browser to complete this form.

Your Subscription Information

Your Name
Your Email Address
Broadcast Dialogue uses this information to understand our audience and deliver relevant content.
Broadcast Dialogue uses this information to understand our audience and deliver relevant content.

Your Company Information

A Couple Of Questions

Do you consider yourself retired?
Are you seeking employment opportunities?

Connie Thiessen
Connie Thiessenhttps://broadcastdialogue.com
Connie has worked coast-to-coast as a reporter, editor, anchor and host at CKNW and News 1130 in Vancouver, News 95.7 and CBC in Halifax, and CFCW Edmonton, among other stations. With a passion for music, film and community service, she led News 95.7 to a 2013 Atlantic Journalism Award and regional RTDNA award for Best Radio Newscast. More recently, she was nominated for Music Journalist of the Year at Canadian Music Week 2019. To report a typo or error please email - [email protected]

Latest News

Former CHUM head Jim Waters passes at age 73

Jim Waters, the former head of the CHUM empire, has passed away unexpectedly at age 73. Waters' Ontario Hockey League (OHL) team, the Erie Otters,...

CRTC sets timeline, negotiation framework under Online News Act

The CRTC has released the mandatory bargaining framework that will apply when major online platforms and eligible Canadian news organizations negotiate agreements under the Online...

Events / Conferences