SPE Takes Full Ownership of GSN

Sony Pictures Entertainment (SPE) has bought AT&T’s interest in Game Show Network (GSN), taking 100 percent control of the U.S. cable network.

SPE previously owned 58 percent of the channel, with AT&T holding 42 percent. AT&T received about $500 million for the transaction. Mark Feldman will remain as president and CEO of GSN.

“We’re excited to bring Game Show Network fully into the Sony Pictures Entertainment portfolio,” said Mike Hopkins, chairman of Sony Pictures Television. “The acquisition allows us to work more closely with the company’s talented team to deliver the best iconic game shows, develop and syndicate new game show IP for audiences across the nation, as well as to advance the fast-growing GSN Games business, all of which directly aligns with our strategy of developing targeted direct-to-consumer offerings.”