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March 28, 2007
Paris' Trace.TV Takes Strategic Funding From Universal Music Group
Universal Music Group has made a strategic investment of an undisclosed amount. In addition to cash, Universal will provide Trace with global music and video rights, a weekly slot on Universal's International Music Feed and cross promotions, including an urban music partnership to sell mobile content in China.
Launched in 2003 in Paris, France, TRACE began as a print magazine and now runs urban music programming in multiple languages across Internet, cable, satellite, radio, IPTV and mobile platforms. It expects to launch in the US market in 2007/8. In 2003, Goldman Sachs Urban Investment Group made an investment.
Trace's founders are Claude Grunitzky, Olivier Laouchez who are former TV and record label senior executives, and Richard Wayner a former investment banker.
Read - Universal Music Group (UMG) to Invest in Alliance TRACE Media (TRACE)
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Posted on March 28, 2007 07:32 PM | Posted to Media | Permalink
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