One Media iP has announced the acquisition of the music catalogue of Locomotive Records, an independent record label

22 July 2019 - Press release

One Media iP (AIM: OMIP), the digital media content owner which exploits intellectual digital property rights around music, video and copyright technology, announced the acquisition of the music catalogue of Locomotive Records, an independent record label based in Spain. 

The total consideration for the acquisition of the Locomotive Records catalogue was US $750,000, to be satisfied from the Company’s available cash resources, of which US $550,000 was paid immediately with a further US $200,000 in deferred payment. The Company announces the deferred consideration has now been paid.