Sony Pictures Television acquired the children’s media company Silvergate Media from the investment firm Shamrock Capital and the Silvergate management team for $195 million.
As part of the acquisition, Sony Pictures Entertainment acquired 100 percent of Silvergate Topco, which has assets that include a 49 percent stake in a joint venture with Wanda Group in Beijing. The joint venture holds the rights to preschool animated series Octonauts. SPE also bought a minority stake in Silvergate BP Bidco, the producer of the Peter Rabbit series. Waheed Alli will continue to lead as CEO of Silvergate, with William Astor as chairman.
Mike Hopkins, chairman of Sony Pictures Television, stated, “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.”