Vivendi Buys Majority Stake in Digital Radio Platform Radionomy
Vivendi announced on Thursday it has acquired a majority stake in digital radio platform Radionomy, owner of streaming technology SHOUTcast, ad network TargetSpot and the 18-year-old Winamp player. Vivendi purchased 64.4 percent of the share capital of the company, with the remaining shares owned by its founder Alexandre Saboundjian, its employees and Union Square Ventures.
According to Vivendi’s announcement, over 57,000 radio stations are using Radionomy’s tools to help broadcast and monetize their programs in the digital space.
Based in Belgium, Radionomy will use the Vivendi investment for commercial development and to capitalize on the expected growth of the digital audio market. Vivendi also says its relevant companies will begin collaborating with Radionomy for certain support.
"With this investment in digital radio, Vivendi expands its presence in the value chain that flows from talent discovery to content production and distribution," the statement reads. "Collaboration between the digital audio platform and the Vivendi businesses will be established and a number of innovative offers will be developed. Radionomy also complements the talent support program which contributes to the Vivendi Group’s sustainable development."