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"As we
continue UMG's transformation to a music-based content company, expanding our audio-visual catalog and production expertise is critical ... Terry [Shand] has built Eagle Rock into a world-class content company and a leading force in distributing top music-based
audio-visual programming."
—--UMG CEO
Lucian Grainge

UMG FLIES LIKE AN EAGLE

Acquisition of U.K.-Based Eagle Rock Entertainment Expands Audio-Visual Offerings

UMG has acquired U.K.-based Eagle Rock Entertainment, independent producer and distributor of music-based audio and video content, CEO Lucian Grainge announced today.

One of the largest players in the market, Eagle Rock has produced concert DVDs, documentaries and/or other material on such artists as The Rolling Stones, Paul McCartney, Elton John, The Who, The Doors, Queen, U2, Nirvana, Metallica, Eminem, Eric Clapton, Ella Fitzgerald, Peter Gabriel, Ozzy Osbourne and Morrissey, among many others. Its Doors doc, When You're Strange, earned a Grammy in 2010.

With its 800-title library of rock, pop and jazz material and established production capability, Eagle Rock will help expand offerings related to UMG artists,
including artist-based "bundles" designed for delivery via mobile and other emerging platforms.

The company also operates two record labels, Eagle Records and Armoury Records (which are part of UMG's acquisition), and pubco Eagle-i Music (which is not). The labels' releases include physical or digital releases by the likes of Lindsay Buckingham, Counting Crows, Styx and Ronnie Wood.

The terms of the deal are not being made public. Eagle Rock Chairman/CEO Terry Shand will continue to run the company from its London offices.

"As we continue UMG's transformation to a music-based content company, expanding our audio-visual catalog and production expertise is critical," said Grainge. "We're thrilled to welcome Terry and the Eagle Rock team to theUMG family. Terry has built Eagle Rock into a world-class content company and a leading force in distributing top music-based audio-visual programming. "

"I am delighted to bring Eagle Rock into the UMG family and look forward to growing Eagle Rock in the coming years by producing more great content and benefiting from the digital revolution that is taking the audio-visual space by storm," Shand declared. "I'd like to personally thank Lucian Grainge, [UMG CFO] Boyd Muir and [UMG International CEO] Max Hole for their vision and confidence, [private equity firm] Beringea for their support over the last few years and [CFO/COO] Geoff Kempin, (Executive Director] Simon Hosken and all the team at Eagle Rock for the tremendous work they have done to date and their dedication to the future."

Eagle Rock was founded in 1997 by Castle Communications alumni Shand, Kempin and Julian Paul, with funding from BMG; it was purchased by Edel Records, which sold it to investment firm HGCapital in 2001 for an estimated £34 million ($56.4m). Edel AG re-acquired a minority stake six years later.


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