Did Canadian Pubbery ole Just Spend US$600M+ Buying Imagem?

Co-founder CEO Robert Ott suggested his Toronto-based ole rights management company was going to be ratcheting up acquisitions in 2016 and in the past several weeks the company has announced three new deals, but overnight a report from London indicates ole has purchased Imagem Production Music, one of the UK’s most significant independent production companies and it didn't come cheap.

According to Music Business International, Imagem was formed in 2007 by Dutch pension fund ABP and music publishing firm CP Masters BV, and immediately went into acquisition mode, spending over US$600M to buy up catalogues owned by Rondor, Zomba UK, the BBC, Boosey & Hawkes, Rodgers & Hammerstein.

No terms for the deal have been disclosed; however, a news release says that subsequent to the Imagem Production Music buyout, ole has now rebranded the company as Cavendish Music.

The same news release notes that the acquisition adds 240,000 tracks to ole’s existing production-music library, which now totals over 750,000 controlled tracks, creating “new cross-marketing opportunities with ole’s other production music library businesses.” Cavendish immediately adds representation of this larger repertoire and will continue to operate as an independent entity under the ole umbrella, serving its existing client base and market.

Cavendish Music maintains a vast library of music crafted especially for TV, radio, and film. This includes orchestral music, trailer tracks, promo cues with multiple edit points, and music beds based on a range of genres from composers of award-winning film and television soundtracks. Their in-house team includes engineers who have worked with Madonna, U2, William Orbit, Trevor Horn, and Cathy Dennis. The company also provides UK representation to production-music catalogs from around the world, including 5 Alarm, Sonoton, Sonic Quiver, Epic Score, Gothic Storm Music, and 1Revolution Music.

Current ole writers include Rush, Timbaland, Tyler Farr, Josh Dorr, Gord Bamford, Brett Jones, Dave Turnbull, Jeremy Stover, Marty Dodson, and Ian Thornley. ole has ongoing Ventures with Last Gang Publishing, Roots Three Music, Jackoby Publishing, and most recently, ole-Bluestone Publishing, ole’s venture with global hitmaker Timbaland.



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