Sony Pictures Television has acquired Silvergate Media in deal worth $195m, bringing Hilda, Octonauts and the Peter Rabbit animation under the SPT banner.
Sony purchased the studio and its IP from the management team of Silvergate and Shamrock Capital, a Los Angeles-based investment firm.
Under the agreement, Silvergate will continue to be managed by CEO Lord Waheed Alli, with Viscount William Astor remaining on board as Chairman.
The deal includes 100 per cent of Silvergate Topco Limited, whose assets include Silvergate’s 49 per cent interest in a joint venture with Beijing-based Wanda Group, which holds the rights to Octonauts, as well as a minority stake in Silvergate BP Bidco Limited, which produces the Peter Rabbit television series and will continue to be majority-owned by Waheed Alli.
“We are all excited about joining SPT and the creative teams within the SPT family,” says Waheed. “2020 will see a new and strong development slate coming to market with some exciting new series in the pipeline.”
Mike Hopkins, Chairman, Sony Pictures Television adds: “We are excited to extend our capabilities and gain valuable children’s IP to bolster our entry into the kids’ space. Silvergate gives us a great building block to expand into this genre in a meaningful way.”