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Digital juke box maker TouchTunes explores sale: sources

03
Sep
2014

TouchTunes Interactive Networks, a digital jukebox company that lets customers pick songs they want to hear in restaurants and bars, is exploring a sale that could fetch roughly $500 million, people familiar with the matter said on Tuesday. TouchTunes, whose investors include British private equity firm 3i and venture capital firm VantagePoint Capital Partners, is working with investment bank Moelis & Co to help find a buyer, said the people, who asked not to be named because the matter is not public. TouchTunes, which is run by veteran music executive Charles Goldstuck, a former president of BMG, has its digital juke boxes in 73,000 bars and restaurants in North America and Europe. Founded in 1998, the company has licenses to play songs from major music labels such as Universal Music Group, EMI and Sony Music, according to its website.

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