Ovation TV buys music channel
From Times Wire Services
Ovation TV, an all-arts cable channel owned in part by film studio Weinstein Co., said it acquired a music video channel operated by Vivendi’s Universal Music Group.
Ovation, based in Santa Monica, bought International Music Feed, which Universal Music launched in 2005. The channel features performances and music videos by artists worldwide.
Under the deal, Universal Music gains a minority stake in Ovation. Financial terms of the cash-and-equity deal, completed last week, were not disclosed.
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