Audio Network, the London based company that is a kingpin in the music we hear in the background of hit TV series’ like Killing Eve and The Bodyguard is about to be sold to the company behind Peppa Pig.
A deal believed to be worth in the region of €200 million is expected to be signed today or early next week that will give Entertainment One ownership of Audio Network.
The company was founded in 2001 by two executives who had left Boodle & Hawkes, the classical music publishers. Their idea was simple, to build a catalogue of incidental music that could be sold to TV producers from a single point rather than their having to deal with multiple publishers.
Andrew Sunnucks and Robert Hurst went on to build a company that is a clear leader in its field and employs 140 people in nine offices around the world.
They have built up a catalogue of over 150,000 pieces of music, without writing a single one of them and their customer base is believed to be as high as 30,000.
The surge in demand for quality content caused by the growth of cable and streaming companies like HBO and Netflix has pushed TV production to previously unimagined heights and Audio network is about to reap the reward.
They also work with advertising agencies and content producers across a range of formats.
Entertainment One is similarly built around collecting series which it distributes to different jurisdictions around the world.
Four years ago it bought the rights to Peppa Pig for a sum of around €170 million.
The company is quoted on the London Stock Exchange and is valued at #2.2 Billion.
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