Sony Music Invests In Dada
June 25, 2009 at 2:19 PM (PT)
SONY MUSIC has enhanced its relationship with Italian Internet and entertainment services group DADA by acquiring 13% stake in DADA's mobile music operation, DADA.NET. In exchange, DADA will get 50% stake in DADA ENTERTAINMENT, a joint venture between the two companies.
According to REUTERS U.K., the two companies also signed a new content distribution agreement enabling DADA to offer a wider selection of products and services with content from SONY MUSIC artists.