The German company IDAGIO, which runs a specialist classical music streaming service, has completed its insolvency proceedings in self-administration. The whole process took about four months, and the creditors have unanimously agreed to the insolvency plan proposed by the company. The proceedings will soon be approved by the Charlottenberg District Court.
The new shareholders are the Berlin-based music entrepreneur Ki Soo Lee and Jim Chang from Singapore. They will aim to give the streaming service a more international outlook, thus opening new opportunities to grow the company’s customer base.
The company said it was satisfied with the outcome, given that operations were able to proceed as usual throughout the process. They…