Just 18 months after it closed the acquisition of EMI Music, Universal has got its chequebook out again – buying UK-based Eagle Rock Entertainment. The terms of the agreement are not being disclosed.
The library of Eagle Rock, an independent producer and distributor of music programming, includes nearly 2000 hours of programming and more than 800 titles. Eagle Rock Chairman and CEO Terry Shand will continue to lead the company from its headquarters in London.
Music Business Worldwide understands that Eagle-i Music, Eagle Rock’s publishing arm, remains independent of the deal.
Lucian Grainge, Chairman and CEO of UMG, said: “As we continue UMG’s transformation to a music-based content company, expanding our audio-visual catalog and production expertise is critical. We’re thrilled to welcome Terry and the Eagle Rock team to the UMG family. Terry has built Eagle Rock into a world-class content company and a leading force in distributing top music-based audio-visual programming. ”
Terry Shand said: “I am delighted to bring Eagle Rock into the UMG family and look forward to growing Eagle Rock in the coming years by producing more great content and benefiting from the digital revolution that is taking the audio-visual space by storm.
“I’d like to personally thank Lucian Grainge, Boyd Muir and Max Hole for their vision and confidence, Beringea for their support over the last few years and Geoff Kempin, Simon Hosken and all the team at Eagle Rock for the tremendous work they have done to date and their dedication to the future.”
Eagle Rock was advised by Lepe Partners.Music Business Worldwide