Sony Pictures Television buys Silvergate Media

Sony Pictures Television has bought Silvergate Media in order to strengthen its presence within the children’s entertainment space. Silvergate Media is a stakeholder in the pre-school hit Octonauts, and production team behind the Peter Rabbit television series.

As part of the deal, Sony Pictures Entertainment has acquired a 100% control of Silvergate Topco Limited, whose assets include Silvergate’s 49% interest in a joint venture with the Beijing-based Wanda Group, holding the rights to Octonauts.

In addition to this, Sony Pictures Television has acquired a minority stake in Silvergate BP Bidco Limited, which produces the Peter Rabbit TV series, and will continue to be majority-owned by Silvergate CEO, Waheed Alli.

Waheed Alli said, “We are all excited about joining SPT and the creative teams within the SPT family. 2020 will see a new and strong development slate coming to market with some exciting new series in the pipeline.”

Alli will be continuing to manage the Silvergate outfit, while William Astor will continue as Chairman of the business that focuses on developing, producing and licensing children’s animation with offices in both London and New York.

The recent acquisition underlines the company’s strategy of diversifying its studio business and growing key genres.

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.”

Will Wynperle, partner at Shamrock, added, “This is the beginning of an exciting new chapter for the team at Silvergate. Over the past several years, the company has significantly grown its portfolio of brands, many of which can be seen on a global basis. We have enjoyed working with the Silvergate team over the past several years and they are excited about their new partnership with SPT.”