Dada is to buy a 10 per cent stake in digital music specialist Giglio Group for 750,000.
Giglio owns the interactive on-demand TV channel Music Box, so the purchase should help Dada cement its position as a growing force in digital music.Last Dada year created Dada Entertainment with Sony BMG to develop music services via web and mobile. And just weeks ago it launched The Music Movement, partnering with Sony BMG, Warner Music and The Orchard to establish a no-DRM MP3 music store.
It’s been a busy few days in the markets for Dada. Earlier this week it bought 70 per cent of the blogging group E-box for €1.6 million. The deal ups Dada’s stake in compatriot firm E-box, which owns the blog network Blogo.it, from its current 30 per cent. Blogo.it comprises over 25 websites, and claims 5.4 million unique visitors per month. It is ranked as the largest blog network in Italy overall.
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