News - 24/12/2013

Sony parts ways with Gracenote, acquired by Tribune for $170m

Sony parts ways with Gracenote, acquired by Tribune for $170m

In a surprise move Sony Corporation of America has decided to sell its majority stake in music meta-data specialist Gracenote.

The company was sold to Tribune Co. in a deal worth $170 million. Since Sony had purchased the business in 2008 for over $260m, this means it had to write off around 90m from the value of the company.

This is an interesting move considering that the value attributed to holding accurate metadata regarding online media media is on the rise especially as Gracenote has become a powerhouse in movie and video metadata as well: in this respect the sale may be a good barometer to show how much pressure Sony is under to perform well with shareholders.

In a press release Shashi Seth, President of Tribune Digital Ventures, stated: “Gracenote and TMS are an ideal fit, both companies have substantial digital footprints and are well-respected leaders in their areas globally. Together we will become an even greater force in the global entertainment data business by servicing new and existing customers with better data, new products, and new services to help an evolving entertainment industry.”

© 2024 All rights reserved. Rockol.com S.r.l. Website image policy

Rockol

  • Rockol only uses images and photos made available for promotional purposes (“for press use”) by record companies, artist managements and p.r. agencies.
  • Said images are used to exert a right to report and a finality of the criticism, in a degraded mode compliant to copyright laws, and exclusively inclosed in our own informative content.
  • Only non-exclusive images addressed to newspaper use and, in general, copyright-free are accepted.
  • Live photos are published when licensed by photographers whose copyright is quoted.
  • Rockol is available to pay the right holder a fair fee should a published image’s author be unknown at the time of publishing.

Feedback

Please immediately report the presence of images possibly not compliant with the above cases so as to quickly verify an improper use: where confirmed, we would immediately proceed to their removal.