Sony Pictures Television to Acquire U.K. TV Networks Group CSC Media
The deal will add 16 channels in the kids, music and general entertainment space to Sony's portfolio.
LONDON – Sony Pictures Television said Thursday it has agreed to acquire U.K. TV networks group CSC Media.
Financial details weren't disclosed.
The deal, which comes after the recent Viacom agreement to acquire U.K. broadcaster Channel 5, will add 16 channels in the kids, music and general entertainment space to Sony's portfolio. Sony said it the acquisition will make it the No. 5 cable/satellite/multi-channel player in the U.K. in terms of commercial ad views.
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“The acquisition of CSC further demonstrates our commitment to the U.K. market and our intent to continue to grow our tremendously successful global portfolio of networks,” said Andy Kaplan, president of worldwide networks for Sony Pictures Television. "These new channels perfectly complement our current offerings, allowing us to provide viewers with a variety of entertainment choices and advertisers with greater reach and cross-channel opportunities."
Remy Minute, CEO of CSC Media, said: "CSC has grown from a small bouquet channel operator to become one of the leading multi-channel ad-supported TV networks in the U.K. This combination with SPT allows us to accelerate our growth trajectory, both internationally and domestically."
SPT entered the U.K. TV market in 2011 with one channel feed of Sony Entertainment Television on BSkyB and has grown to nine channel feeds across multiple platforms, including two free-to-air national feeds on Freeview. The company says it reaches a combined total of more than 20 million viewers per month that way. Sony's U.K. channel brands include Sony Entertainment Television, Sony Movie Channel, Movies 4 Men and Movie Mix.
The acquisition "complements SPT’s current movie and entertainment channels and expands its offering into the music and children’s genres with the addition of brands including True Entertainment, Pop and Chart Show TV," the company said. Additionally, the deal expands SPT’s reach on Freeview from two to four channels. The CSC channels are also distributed internationally in Ireland and sub-Saharan Africa. Advertising on all of SPT’s channels is sold by BSkyB.
The CSC team will report to Kate Marsh, SPT svp networks, Western Europe.
CSC was founded in 2007 via the acquisition of the Chart Show portfolio of channels by private equity group Veronis Suhler Stevenson and a new management team.