On April 11, 2019, Entertainment One (eOne) announced that it has entered into an agreement to acquire UK-based Audio Network Limited, one of the world’s largest independent creators and publishers of original high-quality music for approximately US$215 million. The cash consideration for the acquisition will be partially financed by the proceeds of the placing announced by eOne and the remainder is expected to be financed by a debt financing and the issue of Common Shares in eOne to key management of Audio Network Limited.
The addition of Audio Network secures eOne’s position as a leading end-to-end global independent music brand by enriching eOne’s full-scope capabilities and generating more monetization opportunities for eOne commercial artists.
Entertainment One is a leading international entertainment company that specializes in the acquisition, production and distribution of film and television content.
Audio Network Limited is a global music company, that publishes music for television, film, advertising, and corporate video productions.
Osler, Hoskin & Harcourt LLP is representing eOne as Canadian counsel with a team consisting of Rosalind Hunter and Alex Gorka, Jessica Thomson (Corporate), Richard Borins, Jeremy Burgess and Hayley Larkin (Financial Services).