Stingray Group Inc. has dropped its takeover attempt of American rival Music Choice and adopted a different strategy for entering the U.S. market after winning a break-through contract with a client that operates cable systems in 21 states.
Montreal-based Stingray, which provides advertising-free music services through major Canadian TV distributors such as Bell, Cogeco, Eastlink, Rogers, Shaw, Telus, and Videotron, had offered US$120 (C$156) million for Music Choice in August.
