Leading Indie Publisher Ole Scoops Up London-Based Compact
Just two weeks after announcing it had secured a credit facility of half-a-billion dollars, the Toronto-based independent publishing and rights management company ole has used it to make its first major acquisition -- another rights management company, London-based Compact Media.
“Compact’s deep understanding and network in the A/V secondary rights space and its complementary data platforms will be augmented by ole’s broader rights network, multiple IP services and proprietary data analytics/BI systems,” the press release states.
Staff in Compact’s London, Los Angeles and Sydney offices will join ole, but Compact will remain under the direction of David Johnson, who was CEO.
“ole is very excited to be adding Compact’s global capabilities as a leader in the AV [audiovisual] rights management space, and we look forward to bringing the increased benefits to our mutual clients around the world,” ole chairman and CEO Robert Ott said in a statement on the news. “David and his team have built a formidable business and we welcome them to ole.”
Compact, which manages audio-visual secondary rights for more than 700 clients globally, including Dreamworks, BBC, National Geographic, A&E and PBS, will bring “added commercial, data and systems expertise” to ole, the release states.
“Compact Media is delighted to be joining ole,” said Johnson. “Over the last few years we have built up a loyal and varied customer base which we believe will benefit greatly from this new combination with ole. The team at ole has impressed us with the quality and breadth of their service offering which we think will provide an even better platform for us to serve our client base with the personal and expert levels of service they are used to.”
Founded in 2004, ole has completed more than $520 million in acquisitions and has a catalog of more than 50,000 songs and 60,000 hours of TV/Film music of all genres. Among its acquisitions are the Sony Pictures Entertainment catalog, publishing and masters rights to Rush and a joint venture publishing company, ole-Bluestone, with producer/songwriter Timbaland.
Compact’s services include secondary re-transmission rights collection, production finance, music publishing, revenue assurance and data and technology services.