PARIS (dpa-AFX) - French media and music company Vivendi SA (VIVEF.PK) announced that it has acquired 64.4% of share capital of Radionomy Group, a major global player in the digital radio industry.
The Vivendi Group has become Radionomy's majority shareholder alongside its founder Alexandre Saboundjian, its employees and Union Square Ventures.
Vivendi said that over 57,000 radio stations are using Radionomy's tools to help broadcast and monetize their programs in the digital space.
Radionomy Group owns the streaming technology SHOUTcast and iconic Winamp audio player. It also controls TargetSpot, the first digital audio advertising network in the United States and in France.
Vivendi stated that its capital investment in Radionomy Group will provide an impetus for its commercial development and to capitalize on the expected evolution of the digital audio market.
With this investment in digital radio, Vivendi expands its presence in the value chain that flows from talent discovery to content production and distribution. Collaboration between the digital audio platform and the Vivendi businesses will be established and a number of innovative offers will be developed.
Copyright RTT News/dpa-AFX