| Montréal, May 3, 2007 |
Two young Montrealers, Alexandre Taillefer and Eric Boyko, well known in the business community, are joining with Telesystem to create STINGRAY DIGITAL MEDIA GROUP inc., an international company dedicated exclusively to digital media.
The company will acquire leaders in well-targeted digital media niches and will participate in managing their operations. “Given our experience in digital media, Stingray will do far more than purchase and manage a portfolio. We will manage the growth of the companies acquired by consolidating their sector of activity and creating synergies between them,” says Eric Boyko.
François-Charles Sirois of Telesystem explains: “The digital media sector is booming. However, we have realized that several niches, currently considered marginal, will become important industries in a few years’ time. Stingray has been created to capitalize on several extremely promising opportunities.”
Hours ago, Stingray put its strategy to work by making its first acquisition: the purchase of a majority of the assets of Soundchoice, the world leader in the Karaoke sector. The purchased assets will be held by Stingray Music, Stingray’s first subsidiary. With the largest catalogue of Karaoke songs in the world, a library of more than 16,000 titles, and a specialized TV channel, The Karaoke Channel, with access to more than 15 million households in the United States, Stingray Music will service Karaoke fans around the world, on iPod, the Internet, consoles, cell phones and TV.
Referring to this first transaction, Alexandre Taillefer proudly says: “There’s nothing corny about Karaoke! It’s been a very popular form of entertainment for 20 years and it’s enjoyed by more than 100 million people in North America alone. Stingray will work very hard to make the content accessible to everyone, everywhere at all times.”
Well-informed and prudent, the investors are considering several other acquisitions and believe they will be able to create and support hundreds of jobs over the next years.
Source | STINGRAY DIGITAL MEDIA GROUP
