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Entertainment One Acquires U.K.’s Audio Network for $215 Million

Entertainment One has acquired U.K.-based independent music brand Audio Network, the two companies announced Thursday. The deal, worth $215 million, gives eOne full ownership of the independent music creator, publisher and licensor, which specializes in high-quality music for use in film, TV, advertising and digital media.

Audio Network operates in nine countries: the U.S., U.K., France, Germany, Spain, Italy, Portugal, Australia and Japan. It boasts more than 150,000 wholly owned music tracks across all genres, representing more than 1,000 artists, composers and producers.

“As we continue to unlock the power and value of creativity for artists, we are very pleased to welcome Audio Network, whose passionate management team and ambition align entirely with ours,” said eOne president and CEO Darren Throop. “The combination of eOne’s front-end commercial artist catalogue and Audio Network’s extensive premium production music creates a one-stop solution for business customers seeking high-quality music.”

Throop said the deal would “significantly bolster” eOne’s capabilities in the music business.

Audio Network’s founder and chairman Andrew Sunnucks and CEO Rob Smith will remain with the company alongside its existing executive management team. “In joining eOne, we are becoming part of an incredible global entertainment family and will have the continued opportunity to create and record the world’s best music and share it globally,” said Sunnucks. “Their platform-agnostic content strategy, combined with an alignment of culture, values and vision for the future of the business, make eOne an ideal partner for our teams around the world.”

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