LONDON (ShareCast) - Music rights exploitation group One Media IP said trading remained in line with expectations as it completed its financial year.
The AIM-listed company, which buys the rights to pop songs and bundles them together as digital albums, said it had spent $0.12m in the the half-year to consolidate its position with a number of its music licensor partners by buying-out their royalty income.
The group said it retained a strong cash position and had signed further deals for video and audio content, including over 300 “animal video documentaries” and keep fit videos.
Shares in the company, which had climbed from below 10p to above 17p in October on no official news, retreated 5% on Thursday to 16.5p at 08:45.
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