In a move in which it will add at least 16 channels to its UK portfolio, Sony Pictures Television (SPT) has reached an agreement to acquire CSC Media Group (CSC) in the UK.
One of the UK's largest independent cable/satellite TV channel groups whose portfolio encompasses kids, music, and movies and entertainment genres, CSC was founded in 2007 via the acquisition of the Chart Show portfolio of channels by private equity group Veronis Suhler Stevenson and a new management team. Its channels are available on Sky Digital, Virgin Media, Freesat and on Freeview. CSC also owns and operates a number of complementary websites, on-demand services and mobile apps.
The deal, for which no value has yet been attributed and is pending regulatory approval, will see SPT acquire 100% of the company. Following acquisition, SPT Networks says that it will be the number five cable/satellite/multichannel player in the UK market in commercial ad views.
"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," commented 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."
Added CSC Media Group CEO Remy Minute: "CSC has grown from a small bouquet 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."