The Ontario Teachers’ Pension Plan Board has increased its equity investment in Canadian-based rights company Anthem Entertainment “in order to facilitate the business’s strategy for continued growth.” In addition, the company has announced completion of a new revolving credit facility of $400 million plus a $150 million incremental facility that allows it to expand the maximum amount allowed on its line of credit.
Anthem CEO Helen Murphy stated in a media release that “I am grateful to Ontario Teachers’ for their confidence in our strategy and for their continued support.”
Continuing, she added: “Over the past few years, we have successfully expanded through a strong combination of organic growth and acquisitions, enabling us to further diversify our service offerings and repertoire base, making us more attractive to artists, songwriters, composers, and content producers.
Again, from the announcement: “We believe that with this additional equity investment and our new credit facility we are well positioned to make the most of the opportunities across our music publishing, recorded music, production music, and film and television services businesses. We are also thankful to the banks in our syndicate, many of whom have been long time supporters of Anthem Entertainment throughout our 17-year history.”
In September 2019, Anthem acquired 50% of Nashville based Wrensong led by music row leader Ree Guyer. The deal also included a co-venture with Wrensong Publishing Corp. that includes a catalogue of over twenty #1 country hits, including Old Dominion’s Make It Sweet, No Such Thing As A Broken Heart, Hotel Key, #1 hits by Dierks Bentley, The Band Perry, Blake Shelton, Carrie Underwood, and Jason Aldean.
In October of the same year, Anthem has acquired a catalogue of songs from Boardwalk Music Group, which were co-written by songwriter Eric Frederic (Ricky Reed). The catalogue includes some of the world’s biggest hits by artists such as Halsey, Leon Bridges, Lizzo, and Meghan Trainor. The LA-based publishing and artist development company was founded by songwriter and creative executive Evan “Kidd” Bogart, the son of Neil Bogart of Casablanca Records fame.
Then in November 2019, Anthem acquired a catalogue of songs from songwriter and producer Doc McKinney. Key assets included The Weeknd’s Wicked Games, Starboy, Die For You, and Pray For Me.
In February 2020, Gord Bamford extended his worldwide publishing deal with the Anthem Entertainment. Anthem also acquired Bamford’s masters from Cache Entertainment including all albums from 2001’s God’s Green Earth, to Diamonds In A Whisky Glass (due out later this year). Bamford is the two-time winner of the CMA Global Country Artist Award, with 25 Top 10 singles in Canada including the No. 1 hits When Your Lips Are So Close and Dive Bar.
Founded in 2004 as Ole, the Ontario Teachers Pension Fund has been a key investor in the Canadian rights management company. It expanded its position in acquiring company co-founder Robert Ott’s position in the company in 2018 and now holds a controlling interest in the privately held firm.
In 2015, the company acquired all the rights to the Anthem Entertainment brand, including Anthem Film & Television Productions, and the recorded music catalogue highlighted by recordings by Rush as well as Max Webster, Big Wreck, Ian Thornley, Steven Page, The Tea Party, and Max Webster. The company rebranded itself as Anthem Entertainment in 2019
TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 103.40 points at 24,542.48.
In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.
The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.
The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.
The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.
This report by The Canadian Press was first published Oct. 16, 2024.
TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.
The S&P/TSX composite index was up 205.86 points at 24,508.12.
In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.
The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.
The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.
The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.
This report by The Canadian Press was first published Oct. 11, 2024.
TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.
The S&P/TSX composite index was up 0.05 of a point at 24,224.95.
In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.
The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.
The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.
The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.
This report by The Canadian Press was first published Oct. 10, 2024.
