Stingray Digital Group Inc acquires Newfoundland Capital Corp Ltd for US$312M

CANADA - Stingray Digital Group Inc definitively agreed to acquire the entire share capital of Newfoundland Capital Corp Ltd, a Dartmouth-based radio station, for an estimated CAD 13.28 in cash per share, or a total of CAD 286.026 mil (USD 222.658 mil).

 

 

 

 

 

 

 

 

 

 

CANADA - Stingray Digital Group Inc. definitively agreed to acquire the entire share capital of Newfoundland Capital Corp. Ltd., a Dartmouth-based radio station, for an estimated CAD 13.28 in cash per share, or a total of CAD 286.026 mil (USD 222.658 mil).

 

The purpose of the transaction was for both Stingray Digital Group Inc. and Newfoundland Capital Corp. Ltd. to strengthen their operations.

 

Date Announced: 05/02/2018
Deal Status (as of publication date): Pending
Deal Value (mil): $222.66

 

ACQUIRER ADVISORS
National Bank Financial Inc. (Financial: Advisory)
Davies Ward Phillips & Vineberg LLP (Legal Advisor to Acquirer)
Fasken Martineau DuMoulin LLP  (Legal Advisor to Underwriter)

 

TARGET ADVISORS
Blair Franklin Capital Partners (Financial: Represented Board of Directors)
Scotiabank (Financial: Advisory)
Stewart McKelvey Stirling Scales (Legal Advisor)

 

Stingray Digital Media Group, located in Montreal, Quebec, owns and operates a multimedia company. The Company provides cutting-edge applications delivering high-quality music and video content on multiple platforms including Digital TV, IPTV, Internet, Mobile and Game Consoles. The Company was founded in 2007.

Know more about music law in Canada, including the relevant Canadian intellectual property laws pertaining to music and music licensing regulations.

Newfoundland Capital Corp. Ltd., located in Dartmouth, Nova Scotia, owns and operates radio and TV stations. It operates Newcap Radio, which is one of Canada's leading radio broadcasters with 95 licenses across Canada. The Company was founded in 1949.

 

Firm(s)

Davies Ward Phillips & Vineberg LLP Fasken Martineau DuMoulin LLP