Stingray acquires Swiss-based live music station iConcerts

Stingray Digital Group Inc (TSX: RAY.A, RAY.B) has agreed to buy Switzerland's iConcerts, a television channel focused on live music that reaches 250 million households around the globe. No financial terms were released. Stingray, a Montréal-based multi-platform music and in-store media solutions provider, said the deal will make it "the world's largest broadcaster of live music concerts on television." Stingray raised $179.5 million in an initial public offering earlier this year. It continues be a portfolio company of Canadian private equity firm Novacap, Telesystem and other investors.

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