London firm buys Koch

A UK private equity firm called Marwyn Investments has bought Entertainment One, the company that owns independent music company Koch Entertainment. The deal, which still needs regulatory and shareholder approval to go ahead, follows much speculation about the future ownership of the company - earlier reports had suggested one of its existing minority shareholders, a company called Clarke, was seeking total ownership. The Marwyn purchase will mean the company, currently headquartered in Toronto, will be registered in London. Confirming the deal, Koch Entertainment's top man Michael Koch said the Marwyn acquisition was "a welcome and positive development for us, because it will not change our day-to-day business nor management, but afford us the opportunity to grow". As he just said, the deal shouldn't mean any immediate management changes within Koch or Entertainment One.