TouchTunes Merges With PlayNetwork Inc., Acquires El Media Assets

Posted On: 4/4/2017

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TAGS: digital music, digital jukebox, TouchTunes Interactive Networks, PlayNetwork, Searchlight Capital Partners, Eric Sondag, El Media Group, TouchTunes merger

NEW YORK CITY -- Digital jukebox music giant TouchTunes Interactive Networks said it is merging with PlayNetwork Inc., a provider of in-store entertainment for retail, restaurant and hospitality environments. Terms were not disclosed.

TouchTunes, founded in 1998, has been owned by Searchlight Capital Partners since 2015. "This acquisition opens a new chapter for both TouchTunes and PlayNetwork, and will create opportunities for fast-tracked growth across the product portfolio of both companies," said SCP partner Eric Sondag.

PlayNetwork is also backed by private investors. The company was founded by Kevin Robell in 1996.

TouchTunes also announced that it has acquired certain assets of El Media Group, a New York City-based background music and services provider.