BSkyB Acquires Parthenon to Distribute Its Original Content Abroad
The U.K. pay TV giant is eyeing additional revenue from self-distributing programs internationally, which it says will allow it to "reinvest even more in the U.K.’s creative economy."
LONDON - BSkyB said Friday that it will establish its own distribution arm to market the international rights to its original content via by the acquisition of Parthenon Media Group.
It didn't disclose a price tag for its deal for the independent distribution and rights management firm.
"The new in-house model will help generate additional revenues from Sky’s content investment from the sale of overseas rights, which will enable Sky to reinvest even more in the U.K.’s creative economy, for the benefit of customers and content makers alike," the company said.
This year, BSkyB has invested more than £450 million ($ million) in British content commissions and productions. This is set to increase to £600 million ($ million) a year by 2014.
The current Parthenon team, led by founder and CEO Carl Hall, will lead the new division within BSkyB. They will report to Sophie Turner Laing, Sky’s managing of entertainment, news and broadcast operations.
“As we continue to increase investment in U.K. production, this is a natural step in the evolution of Sky’s content business," said Turner Laing. "We are producing world class television - innovative, creatively ambitious and, in many cases, on an epic scale. It’s only right that we match this with world class aspirations for how we take this content to as wide an international audience as possible.”
Said Hall: “I am honored to be leading the new distribution division within Sky. This will also open new and exciting opportunities for international producers looking to benefit from the support of one of the U.K.’s largest investors in original content and a global leader in the provision of world-class television.”