Rights management company ole has taken out $135 million in debt capital from various banks.
This a lot of money for a company whose tagline is “majorly indie”.
ole has acquired the rights to 45,000 songs and 60,000 hours of film and TV. They control the copyright to songs by a wide range of artists, including the Backstreet Boys, Jay-Z, and Madonna. ole also has a staff of songwriters and composers. They recently acquired a huge catalog from Sony Pictures Entertainment. So far they have invested a total of $275 million on intellectual property.
The company will use the money to continue buying, sourcing, and acquiring media rights.