Eagle Rock set for buying spree after buy-out deal. (News).

Eagle Rock claims it will have around 1m [pounds sterling] to spend each month after striking a 34m [pounds sterling] deal with equity specialists HgCapital to buy out Edel's majority stake in the group.

During the past year, Eagle Rock has become increasingly impatient to get its hands on cash to develop its business, but has been frustrated by the lack of funding flowing from its debt-laden German investor and its own abortive attempts to launch on Aim in September.

However, all three of the main deal makers -- Eagle's chairman and CEO Terry Shand, Edel CEO Michael Haentjes and HgCapital director of media investment Nick Martin -- say this latest deal provides the "neatest solution".

With the capital injection from HgCapital, which has bought out BMG's 5% share alongside the 67% owned by Edel, combined with the revenues already generated by Eagle Rock (estimated at around 35m [pounds sterling]), Shand says he has the development money he needs to build the business without diluting the management's significant -- around 30% -- stake in the company.

"We're going to get around 1m [pounds sterling] a month to spend on new recordings and we also have a new bank line to expand," says Shand, adding that the DVD/TV side of Eagle will be ...