April 1, 2016
London Sloane St
Digital Media and Media
Planet TV sold to Sony Pictures Television
Planet TV: Joining forces with Sony Pictures Television to become a major player in Turkish broadcasting
Founded in 2012 in Turkey, Planet TV was created with the clear agenda of becoming a leading multichannel operator in the country.
The company has grown from 2 to 4 channels and is now offering four premium thematic channels with local content across Kids, Cooking, Turkish Movies and Soaps.
These themes used to be programme grids of mainstream channels until Planet, pioneering a new approach, articulated them as distinct channel identities, in turn providing advertisers with targeted audiences.
Now ideally positioned to continue its dynamic development
In April 2016, Sony Pictures Television, an American television production and distribution studio and a division of the Japanese conglomerate Sony, has entered into a joint venture agreement with Planet TV through the acquisition of a majority stake in the company from the existing shareholders.
SPT and Planet will hold call and put options respectively on the remaining shares of the company, allowing Sony to increase their stake to 100%.
With Sony as their partner, Planet TV will continue its dynamic development and growth into being a major thematic channel owner and operator in Turkey.
Through this Joint Venture, the company will be able to further build scale and distinction in a dynamic and competitive broadcasting market.
GCA Altium acted as sole advisor to the seller.