Sony Pictures Television has sold its U.K. portfolio of movies and kids’ channels to U.S. media investment firm Narrative Capital.
The deal covers seven channels—Sony Movies, Sony Movies Action, Sony Movies Classic, Sony Channel, POP, Tiny POP and POP Max—as well as their digital assets. Narrative Entertainment will retain a team of 35 employees in the U.K. to operate the channels.
“Narrative’s range of activity all along the life cycle of content makes this a terrific match,” said Narrative CEO Daniel Levin. “Sony Pictures Television’s U.K. free-to-air broadcasting business has long stood out to us as a hub for creator, brand and technology interaction, which is something we look for. What an exciting opportunity to rebrand with a dynamic, confident voice that welcomes new viewers to celebrate the ease, spontaneity and connection of broadcast television. We’re thrilled to welcome these channels and the staff into the Narrative family.”
Remy Minute, the founder and CEO of CSC Media Group (CSC), led the deal on the ground in the U.K. and is becoming CEO of the channels portfolio during a transition period. “These quality channels from Sony Pictures Television, together with the agile group of media experts who run them, is that rare platform opportunity from which to grow both across existing businesses and new digital extensions,” Minute said. “I am delighted to partner with Narrative and look forward to our work in the U.K. and the U.S. to fully realize the opportunity.”
Levin added, “Sony Pictures Television has done a wonderful job cultivating the channels and the acquisition is a welcome extension of our audience-first, connection-driven philosophy. We embrace the opportunity to broaden the reach of the iconic POP brand with new platforms and original content.”