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Label News (more headlines) 04-19-2014

Universal Music Group Acquires Eagle Rock Entertainment

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Universal Music Group (UMG), the world's leading music company, announced that it has acquired UK-based Eagle Rock Entertainment, an independent producer and distributor of music programming. The terms of the agreement are not being disclosed.

The acquisition enhances UMG's presence in one of the most dynamic and growing segments of music today: top-quality, original audio-visual content, such as live concert footage, documentaries and films. The addition of Eagle Rock's library, which includes nearly 2000 hours of programming and more than 800 titles, enhances the value of UMG's catalog by broadening the product offerings associated with UMG's artists. Further, the addition of Eagle Rock's experienced team will assist UMG in producing video content and creating unique artist-based bundles in a variety of physical and digital formats, including on new and emerging mobile platforms.

Eagle Rock Chairman and CEO Terry Shand will continue to lead the company from its headquarters in London.

In making the announcement, 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."

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