SPT Sets Up JV with Romanian Ad Sales Outfit

LONDON: Sony Pictures Television (SPT) has formed a joint venture with the Romanian advertising sales company Cable Direct, a subsidiary of Centrade USA.

SPT will have a controlling interest in Cable Direct, which now represents AXN, AXN Crime and AXN SCI-FI in Romania. Cable Direct also represents the advertising sales of other TV channels in the market, including Viacom, Fox International and Turner. SPT is the majority shareholder in the JV, with the remainder of the company held by John Florescu and related companies. Florescu will continue to serve as a non-executive director, while the day-to-day management is handled by Bogdan Lazarescu and Florin Visenescu, who will lead a team of advertising sales executives based in Bucharest.

Eddie Nelson, the senior VP of international networks for Europe at SPT, said: “Investing in Cable Direct is the perfect opportunity to introduce a more structured approach to selling advertising on our Romanian channels. Cable Direct’s local knowledge combined with our international ad sales expertise uniquely positions us to further grow our advertising revenue. Serving a client base of several leading channels, Cable Direct offers pay-TV advertising rates that compete strongly against free to air TV rates.”

Florescu added: “The backing of SPT, a global television player, is an important milestone in the continued growth of our business. Our joint venture with SPT positions us strongly in Romania where Cable Direct boasts a long-established presence. It also enables us to capitalize on the burgeoning advertising industry in Romania and in neighboring markets.”