TORONTO, CA (CelebrityAccess) – ole, one of the world’s fastest-growing rights management companies, has announced that its CEO and founder, Robert Ott, has sold his stake in the company to founding equity partner Ontario Teachers’ Pension Plan (Ontario Teachers’). Ott, a veteran of the music industry who founded ole in 2004, will continue to lead the company under a new term as CEO.
“This transaction underscores Ontario Teachers’ commitment to ole and concludes the process that ole ran last year to optimize its capital structure,” said Ott. “I am very pleased to continue to work with Ontario Teachers’ and to lead ole into a new era from the foundation of the great success story we’ve built together over these many years. ole is well-capitalized and is extremely well-positioned to lead and benefit from the disruption and globalization that our Industry is experiencing.”
Ontario Teachers’ Senior Managing Director Ziad Hindo, Capital Markets, added: “We look forward to the opportunity to further support the continued growth of an iconic, Canadian-based company with a proven track record like ole.”
The company currently operates out of eight offices in the U.S., UK, and Canada. The ole catalog includes over 55,000 songs and 60,000 hours of TV and film music across all genres. Copyrights under ole’s control include songs recorded by artists such as the Backstreet Boys, Beyoncé, Blake Shelton, Britney Spears, Carrie Underwood, Eric Church, Jay Z, Justin Timberlake, Kelly Clarkson, Madonna, Michael Jackson, One Direction, Rihanna, Rush, Taylor Swift, and Timbaland.