[ATTACH=CONFIG]198898.vB5-legacyid=9764[/ATTACH]4/1/2014 Boston, MA – The MUSIC Group has entered into a $1.1 Billion USD agreement to add the popular online discussion site Sound Forums Network (SFN) to its portfolio of brands. The announcement was made at a special press conference attended by the principals of both companies, broadcast from the SFN corporate headquarters at 50 Dalton St.
“Discussion of MUSIC Group brands like Behringer, Midas, and Turbosound already occupies all our forum traffic”, said SFN co-founder Bennett Prescott of the move. “It made logical sense to consider an acquisition by MUSIC Group. This will allow them to leverage their brand’s synergy on the global marketplace of the Internet and increase velocity for all of their product lines. As one of the most traveled professional audio bulletin boards in the English language, we are uniquely qualified to manage conversations for them in the broadest possible context.”
Although Sound Forums Network has primarily run the live audio centric discussion forums at soundforums.net, MUSIC Group plans to use their technology for brand communication, media relations, and market research. In discussions with analysts, MUSIC Group spokespeople have stated they will be hiring a writing team to create original content for the site. Their focus will be research into the latest pro audio techniques and technologies, presented for understanding and immediate use by tomorrow’s audio professionals. New resources provided by this acquisition will allow the network to become more true to its original mission by adding new forums for recording, DJs, guitarists, and broadcast engineering.
Uli Behringer, CEO of the MUSIC Group, commented on the purchase: “We have been working with SoundForums.net for over a year now, and received an outstanding response to new product releases from their members. Recently I have seen other online brands with no physical product, like Oculus and WhatsApp, sell for enormous sums. I wanted to make sure we could be part of that kind of wanton disregard for actual market value as well.”
Sound Forums Network will continue to operate independently from its headquarters in Boston, Mass. The deal is expected to close in the second quarter of 2014. Arthur Anderson consulting will handle the transition of ownership.
For more information about the MUSIC Group: [url]http://www.music-group.com[/url]
For more information about Sound Forums Network: [url]http://www.soundforums.net[/url]
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[B]About The MUSIC Group:[/B]
The MUSIC Group is one of the world’s largest holding companies for pro audio and music products brands. As the corporate parent for world-recognized brands such as MIDAS, KLARK TEKNIK, TURBOSOUND, BEHRINGER and BUGERA, the MUSIC Group owns and manages some of the finest brands in the industry.
Their products can be found in professional and project recording studios, video and broadcast suites, post-production facilities, sound reinforcement applications including houses of worship, stadiums, nightclubs, retail locations and on major musical concert tours.
[B]About Sound Forums Network:[/B]
Operators of the pro audio industry’s fastest growing discussion boards, located at soundforums.net, Sound Forums Network is the brainchild of David Karol and Bennett Prescott. With nearly two decades experience deploying and operating audio systems, the two are uniquely qualified to moderate high-level discussion among the industry’s smartest and best looking luminaries.
Soundforums.net has 3,800 members from 195 countries who generate over 750,000 page views a month.
