Sony Pictures Television Buys Silvergate

Sony Pictures Television (SPT) is acquiring Octonauts producer Silvergate Media, which focuses on developing, producing and licensing children’s animation.

Under the deal, Sony Pictures Entertainment (SPE), through a wholly-owned subsidiary, has acquired 100 percent of Silvergate Topco Limited, whose assets include Silvergate’s 49 percent interest in a joint venture with Beijing-based Wanda Group, which holds the rights to Octonauts. Additionally, SPE has acquired a minority stake in Silvergate BP Bidco Limited, which produces the Peter Rabbit television series and will continue to be majority-owned by Waheed Alli. The total purchase price was approximately $195 million.

Mike Hopkins, chairman of Sony Pictures Television, said, “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.”

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.”

“This is the beginning of an exciting new chapter for the team at Silvergate,” said Will Wynperle, partner at Shamrock. “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.”