Why is Concord Music Group, which has a joint venture with Starbucks' Hear Music, merging with a film production company based in Los Angeles (and owned by an Australian company)? Entertainment synergies, and maybe a little bit of elusive theatrical success for Starbucks.

CMG will merge with the film production unit of entertainment Australian company Village Roadshow. CMG will own a 60% controlling stake in the company. The new company, Village Roadshow Entertainment Group, will pay Roadshow up to $86 million for the stake in the company.

The merged companies will operate as separate entities and will look for cross-platform opportunities. Starbucks needs a few cross-platform winners. While it has has much success with music, it has thus far failed in its movie ventures.

[music jobs] HR Manager at EMI NA; New York, NY.