Stringray CEO aims to grow music reach via acquisitions

The chief executive of newly listed music channel operator Stingray Digital Group Inc said on Wednesday the company plans to spend some C$50 million ($40.10 million) this year to acquire distribution across the Americas. Eric Boyko, who founded the Montreal-based company in 2007, said Stingray spent that much in five deals last year and plans to keep up the pace, targeting the United States and Latin America, eastern Europe and Asia.