Universal Music Group has acquired Eagle Rock Entertainment, the company started by Terry Shand that specializes in music video programming for television and DVDs. While terms of the deal were not disclosed, Billboard estimates that UMG paid about $50 million for Eagle Rock, which has annual revenue in the region of $55 million.
The deal adds to UMG's catalog nearly 2,000 hours of music video programming and 800 titles, including concerts and documentaries from the Rolling Stones, Pink Floyd, the Who, Queen, Jeff Beck, the Doors, Peter Gabriel and Paul McCartney. Eagle Rock also issues music albums, including recent titles from Ronnie Wood, Lindsay Buckingham, Gary Moore, Styx and Counting Crows. According to Nielsen SoundScan, Eagle Rock's U.S. market share is 0.17% this year and 0.22% last year. Since it's already distributed by UMG, all of its market share is already claimed by the major.