Rush News

ole Looking for Equity Partner

"Ole, owner of rights to songs from Timbaland to Canadian rockers Rush, aims to ramp up acquisitions and double its profit as it looks for a new equity partner.

"The closely held Toronto-based rights management company had been trying to sell itself for the past year but its asking price of about $600 million was too high for prospective buyers, according to two people familiar with the matter who asked not to be identified because the deliberations were private.

"Ole declined to comment on any previous sale process but the company isn’t currently trying to sell itself, Chief Executive Officer Robert Ott said in an email. It is looking for a new equity investor however as the Ontario Teachers’ Pension Plan seeks to cash out after investing more than C$150 million ($119 million) in the company, Ott said in an interview at Bloomberg’s Toronto office." - For more visit, November 1, 2017

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