Stingray Digital is to purchase The Karaoke Channel from Israeli Ananey Communications. The deal comprises both a linear channel and video on demand service.
It’s the ninth international acquisition made by Stingray in recent months as the Montreal-based operator looks to supplement its existing audio and video music offerings.
“We are delighted to add Ananey Communications’ Karaoke Channel to our product line,” said Eric Boyko, President and CEO of Stingray Digital. “This acquisition strengthens our position as the leading supplier of music services to cable, IPTV and satellite television service providers.”
The purchase of the Israeli station will complement it’s own US Karaoke Channel that was purchased in 2007 and is currently available in 52 million homes worldwide.
The acquisition will also allow Stingray Digital to deepen its penetration in Middle Eastern, Asian and European markets. Ananey Communications has been offering TV and VOD services through TV service operators in France, UK, Germany, Singapore and Vietnam.
“We recognize the benefits of further consolidating the market for karaoke services on TV. This ninth acquisition will further allow us to broaden our customer base and introduce additional music services into new territories,” Boyko added.
Stingray also recently acquired the Tel-Aviv based digital music broadcaster Musicoola.