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BRIEF-Stingray expands international distribution

Published 2015-07-23, 07:49 a/m
BRIEF-Stingray expands international distribution
RAYa
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July 23 (Reuters) - Stingray Digital Group Inc RAYa.TO :
* Expands its international distribution with an agreement to acquire tv music
channels brava nl, brava hd and djazz.tv
* Says all-cash transaction includes an initial payment of approximately $8
million
* Says deal includes potential earnout and performance based milestone payments
totalling $3 million
* Says Stingray will fully own and operate brava nl, brava hd and djazz.tv
* Says three strategic acquisitions are anticipated to be accretive to
stingray's earnings in the first year

* Source text for Eikon ID:nMKWZKWLHa

* Further company coverage RAYa.TO

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