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Stingray abandons Music Choice deal

Media and entertainment company Stingray Digital Group Inc. has ended plans to buy Music Choice Inc., which produces music programming and music-related content.

Stingray made an unsolicited offer to buy Music Choice for US$120 million in August 2018.

The company said Jan. 2 that it does not plan to offer any additional comments regarding the matter.

In other news, Stingray noted it recently entered into a distribution agreement with Altice USA Inc. The deal will bring 50 Stingray Music audio channels and music videos from Stingray's on-demand catalog to Optimum and Suddenlink Communications subscribers.