ole Acquires Compact Media
ole has acquired Compact Media in the latest deal in the hot publishing and rights management sector. Even as investors have become more conservative about music tech, funds have flowed into publishing, often at crazy multiples.
Indie media and rights management company ole has acquired the London-based rights management company Compact Media, which manages audio and visual rights for more than 700 clients internationally.
Compact will remain under its own brand and direction of David Johnson. All of Compact’s staff members in London, the US and Australia, will join ole.
“Compact Media is delighted to be joining ole,” said Johnson. “Over the last few years we have built up a loyal and varied customer base which we believe will benefit greatly from this new combination with ole. The team at ole has impressed us with the quality and breadth of their service offering which we think will provide an even better platform for us to serve our client base with the personal and expert levels of service they are used to.”
News of ole's acquisition of Compact comes just weeks after the company announced that it had secured a major new credit facility and was on the hunt for some potential pickups.