Sony has acquired AT&T’s 42% stake in Game Show Network in a transaction with a total value of $500 million
Sony is positioning GSN’s suite of game programming alongside its television unit’s established game properties such asFor AT&T, the deal furthers the company’s objective to pay down debt and generate cash from non-strategic assets. The telecom and media giant, still digesting its $81 billion acquisition of Time Warner, has sold off a range of assets from real estate to equipment while also completing a massive restructuring of Time Warner, now known as WarnerMedia.
“We’re excited to bring Game Show Network fully into the Sony Pictures Entertainment portfolio,” SPT chairman Mike Hopkins said. “The acquisition allows us to work more closely with the company’s talented team to deliver the best iconic game shows, develop and syndicate new game show IP for audiences across the nation, as well as to advance the fast-growing GSN Games business, all of which directly aligns with our strategy of developing targeted direct-to-consumer offerings.
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