Sony Pictures Television (SPT) is to purchase CSC Media Group, the company behind 16 UK channel brands including Chart Show TV, Tiny Pop and True Movies.
SPT has reached agreement with private equity firm Veronis Suhler Stevenson, majority shareholders in the CSC Media Group, with SPT acquiring 100 percent of the company.
“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,” said 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.”
Chart Show TV has been around as a brand since 1986 when it launched on Channel 4. It became a 24/7 TV channel in 2002.
CSC’s other music channels are The Vault, Scuzz, Starz TV, BuzMuzik, Flava, Bliss and Chartshow Dance.
Remy Minute, CEO of CSC Media Group, said: ”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.”
Morgan Callagy, Partner at Veronis Suhler Stevenson, stated: “Over the past seven years, we have presided over meaningful growth in the CSC business during a time of significant changes in the UK television industry. We are pleased to see that this unique business will now be in an ideal home for the next phase of its growth.”
SPT made its debut in the UK market in 2011 with Sony Entertainment Television. Prior to the acquisition, which will need regulatory approval, Sony had nine channel brands including two on terrestrial platform Freeview.
