Sony Pictures Television or SPT , a unit of Sony Corp. (SON.L,SNE), Thursday said it will buy CSC Media Group, a UK based independent cable-satellite TV channel group with a portfolio of channels across kids, music, and movies and entertainment genres.
Following the deal, SPT Networks will be the No. 5 cable-satellite-multi-channel player in the UK market in commercial ad views. The acquisition complements SPT's current movie and entertainment channels and expands its offering into the music and children's genres with the addition of brands including True Entertainment, Pop and Chart ShowTV. In addition, it will expand SPT's reach on Freeview from two to four channels.
After closing of the deal, the company will report to Kate Marsh, SPT's senior vice president, Networks, Western Europe.
Berenson & Company acted as exclusive financial advisor to SPT on this transaction. Lepe Partners acted as financial advisor to CSC.
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