Sony Pictures Television has acquired a majority stake in Industrial Media, valuing the company at $350 million, in a pursuit of additional unscripted content. The deal will further expand Sony's long-established catalog of scripted content and game shows, as well as some nonfiction and unscripted programming.“The deal will further expand Sony's long-established catalog of scripted content and game shows, as well as some nonfiction and unscripted programming.At SPT our focus is on leadership and quality in growing areas of television, and nonfiction content makes up a significant share of TV viewing,” Ravi Ahuja, Sony Chairman of global television studios and SPE corporate development, said in a statement. “Acquiring Industrial Media gives us scale and expertise that nicely complements our current TV production businesses.”
After the transaction closes, Holzman will join SPT as president of nonfiction entertainment, reporting to Ahuja. Holzman’s longtime producing partner Aaron Saidman will become co-president of nonfiction entertainment for SPT, reporting to Holzman. Moelis & Company advised Industrial Media, which was formed in 2018 in a merger between Core Media Group and Eli Holzman’s The Intellectual Property Corp. (IPC), with Crestview Partners, BlackRock and UTA among its investors, on the transaction. The deal follows Sony's decision to sell its GSN Games studio to Scopely for $1 billion.
Following the transaction, Holly Jacobs, SPT’s executive vp of alternative and syndicated programming, will leave her role to become a producer with an overall deal at Sony.
In addition, Sony announced an expansion of game show content, naming Suzanne Prete executive VP of game show production. Prete, the executive who oversees Wheel of Fortune and Jeopardy!, will develop and produce new game show content while continuing to oversee the popular syndicated shows.
“Suzanne has done a fantastic job at Wheel of Fortune and Jeopardy! and I have every confidence in her taking on this expanded role with game shows at the studio,” Ahuja added. “Holly and her team have built a respected alternative and syndicated programming business over the years, creating shows that have become part of the national Zeitgeist. We look forward to continuing to produce these important programs and creating exciting new series with Holly in the future.”
At SPT our focus is on leadership and quality in growing areas of television, and nonfiction content makes up a significant share of TV viewing. Acquiring Industrial Media gives us scale and expertise that nicely complements our current TV production businesses.” Ravi Ahuja Sony Chairman