Sony Pictures Television Takes Majority Stake in Turkish TV Group
SPT Networks has formed a joint partnership with a local ad-sales company to buy Planet TV.
Sony Pictures Television has moved into Turkey, taking a majority stake in the Planet TV channels group following a joint venture with ad-sales outfit Satis Ofisi.
The deal encompasses four free-to-air channels, including Planet Pembe, Planet Turk, Planet Mutfak and Planet Cocuk, which cover local dramas, movies, cooking shows and kids programming.
"Turkey is an incredibly vibrant market, and we've been looking for the right opportunity to establish a footprint there for some time," said SPT Networks senior vp CEEMA, Lyle Stewart. "We look forward to bringing our expertise in building strong international channel brands to Planet TV to help the portfolio go from strength to strength."
Under the terms of the deal, Satis Ofisi will continue to be the ad-sales house for the Planet TV portfolio.