Ole buys Compact Media

Toronto-based Ole has acquired fellow rights management company Compact Media Group for an undisclosed sum.

The deal will see London-based Compact Media, which manages audio-visual secondary rights for more than 700 clients around the world, bring Ole additional commercial, data and systems expertise.

Compact will remain under its own brand and direction of David Johnson. All of Compact’s staff members in London, the US and Australia, will join Ole.

“Ole is very excited to be adding Compact’s global capabilities as a leader in the AV rights management space and we look forward to bringing the increased benefits to our mutual clients around the world,” said Ole chairman and CEO Robert Ott.

“David and his team have built a formidable business and we welcome them to Ole.”

Compact, which has offices in London, LA and Sydney, recently made its latest investment in original content with Urban Canyons, a UK independent production company that specialises in documentaries.

Compact will provide funding towards Urban Canyon’s forthcoming series Warrior Women in return for a share of revenues from future exploitation of the production.

Ole was founded in 2004 and has operations in Toronto, Nashville, New York, Los Angeles and London. It recently raised $500m in credit having spent $520m on acquisitions since its formation.