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Sony Pictures To Sell GSN Games For $1 Bln

Sony Pictures Entertainment, a wholly-owned subsidiary of Sony Group Corp., has agreed to sell GSN Games, a division of its Game Show Network subsidiary, to mobile gaming specialist Scopely for $1 billion.

Sony Pictures will receive half of the price in cash and the remainder in preferred equity. This transaction is subject to customary closing conditions, including regulatory approvals. The deal, subject to the customary review by regulators, will also give Sony Pictures a minority stake in Scopely.

GSN Games operates a portfolio of free-to-play mobile and online games that includes "Solitaire TriPeaks" and "Bingo Bash," among other titles.

Ravi Ahuja, Chairman, Global Television Studios and Sony Pictures Entertainment
Corporate Development, shared, "GSN Games has been a great business for Sony the last 14 years, and we are proud of the experiences the team continues to deliver for players around the world. In meeting the Scopely team, we knew we found the right organization to support and accelerate the business. We are confident they will take GSN Games to new heights and SPE is pleased to be a minority shareholder in Scopely as a result of this transaction."

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