You’re reading it here first… Italian social media entertainment operator Dada has bought a 10 percent stake in the owner of interactive on-demand TV channel Music Box for €750,000, as it aims to “become one of the main players in the online music market”.

SEE ALSO: Italian Blog Net Blogo.it Sells Majority To Community Operator Dada

Giglio Group’s Music Box is the leading Italian music channel, featuring on Sky Italia, and operates on the web and mobile, including a music download store. Founder Alessandro Giglio remains the majority shareholder but Dada was granted an option to increase its stake to either 51 percent or 100 percent within two years. The deal gives Dada preferential ad rates on the channel and the status of preferred supplier of web and mobile services to Giglio.

Dada is certainly getting busy. On Monday, it upped its stake in Italian blog network Blogo.it to 70 percent, and we understand more acquisitions are expected. Dada’s existing businesses include Dada.net, a social media communication portal that also operates in the UK, and DadaPro, a branding agency for companies. The music services could make a useful addition to its entertainment-centric community play.