Sony Pictures Television has today announced that it has reached an agreement to acquire CSC Media Group in the UK for an undisclosed sum.
Under the agreement, Sony will own and operate the 16 ad-supported channels in the company’s portfolio, pending regulatory approval.
CSC’s channels include True Drama, Chart Show TV, Flava, Tiny Pop and Scuzz.
The deal was struck between Sony Pictures Television Networks and private equity firm Veronis Suhler Stevenson, majority shareholders in the CSC Media Group, with SPT acquiring 100 percent of the company.
“The acquisition of CSC further demonstrates our commitment to the UK 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 Group, added: “CSC has grown from a small channel operator to become one of the leading multi-channel ad-supported TV networks in the UK. This combination with SPT allows us to accelerate our growth trajectory, both internationally and domestically. I very much look forward to working with the team at SPT.”
Advertising on all of SPT’s channels is sold by Sky. Once the acquisition is concluded, the company will report to Kate Marsh, SPT’s senior vice president, networks, Western Europe.
Since 2011 Sony has grown to nine channel feeds across multiple platforms including two free-to-air national feeds on Freeview, reaching a combined total of more than 20 million viewers per month. Channel brands include Sony Entertainment Television, Sony Movie Channel, Movies 4 Men, and Movie Mix.
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.
