Sony Pictures Entertainment has bought out AT&T’s minority stake in the Game Show Network (Gsn), giving the studio 100% ownership of the cable network.
AT&T owned 42% of the channel, with Sony making up the rest. In connection with the transaction, AT&T received approximately $500 million, including proceeds for its equity stake valued at $380 million (before transaction-related adjustments) and dividends of approximately $130 million.
Gsn will continue to be managed by Sony Pictures Television, with Mark Feldman continuing as President and CEO.
Also Read: 'Fast & Furious' Veteran Chris Morgan Signs Overall Deal With Sony Pictures TV
“We’re excited to bring Game Show Network fully into the Sony Pictures Entertainment portfolio,” said Mike Hopkins, Chairman, Sony Pictures Television. “The acquisition allows us to work more closely with the company’s talented team to deliver the best iconic game shows, develop and syndicate new game show IP for audiences across the nation,...
AT&T owned 42% of the channel, with Sony making up the rest. In connection with the transaction, AT&T received approximately $500 million, including proceeds for its equity stake valued at $380 million (before transaction-related adjustments) and dividends of approximately $130 million.
Gsn will continue to be managed by Sony Pictures Television, with Mark Feldman continuing as President and CEO.
Also Read: 'Fast & Furious' Veteran Chris Morgan Signs Overall Deal With Sony Pictures TV
“We’re excited to bring Game Show Network fully into the Sony Pictures Entertainment portfolio,” said Mike Hopkins, Chairman, Sony Pictures Television. “The acquisition allows us to work more closely with the company’s talented team to deliver the best iconic game shows, develop and syndicate new game show IP for audiences across the nation,...
- 11/18/2019
- by Tim Baysinger
- The Wrap
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