LONDON (ShareCast) - (Sharecast News) - Digital music rights investor, publisher and distributor One Media iP Group has acquired a percentage of the producer royalties to more than 100 tracks produced by Steve Levine, including music performed by Louise, 911, Culture Club and the Honeyz.
The AIM-traded firm said the acquisition was completed under its 'Harmony iP' asset release scheme.

That scheme includes the bespoke 'TCAT' software, which monitors music streams across more than 600 music platforms globally, identifying unauthorised use and copyright infringements.

"For someone who has always been interested in tech, this was a big draw for me", Steve Levine said.

"Tracking royalties across the online world is extremely complicated - much better to partner with a company leading the way in this field."

One Media said Levine was known for being at "the cutting edge" of music and technology, winning a BRIT Award in 1984 for Producer of the Year.

The deal would see a partnership that ensures hits such as Karma Chameleon, which topped the charts in 1983, would be future-proofed by the TCAT software to work, the board added.

It said the acquisition was funded through its existing cash resources, and was in line with management expectations and the company's business plan.

"We are big fans of Steve's work and to complete this deal under the Harmony iP initiative incorporating TCAT care is a further vindication of our strategy," said chief executive officer Michael Infante.

"Steve's production skills are legendary, he created a sound and theme for the 1980s that was to become the sound of a generation."

At 1112 BST, shares in One Media iP Group were up 6.45% at 8.25p.

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