>Sony Pictures Television (SPT) has reached an agreement to acquire CSC Media Group (CSC) in the UK.
Under the agreement, SPT will own and operate the 16 ad-supported channels in the company’s portfolio, pending regulatory approval. The deal has been struck between SPT 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."
Following the acquisition, SPT Networks will be the No. 5 cable/satellite/multichannel player in the UK market in commercial ad views. Advertising on all of SPT’s channels is sold by Sky.