VK could acquire digital music distribution platform Multiza - media

MOSCOW. Dec 20 (Interfax) - VK IT company is negotiating the purchase of the Multiza platform that distributes digital music and provides content management services, the Kommersant publication reported citing sources.

Kommersant notes that the platform could merge with VK-owned United Media Agency (UMA) following the transaction.

UMA only distributes music tracks on VK platforms, including VK Music, VKontakte and Odnoklassniki. Meantime, there were reports in the summer that VK was planning to distribute content on music streaming platforms, including foreign ones, based on UMA.

According to Andrei Volyanik, general director of Multiza Group LLC, Multiza has agreements with Russian and foreign streaming services. The company's website lists projects such as Apple Music, Spotify, Shazam, Zvuk, VK Music, YouTube, Yandex Music, and others.

Multiza also has offices in Canada and Dubai, thereby allowing the company to effect payments from monetizing the music of Russian artists on foreign platforms, Volyanik told Kommersant.