Exclusive: Sony Pictures Television has taken a £39.7M ($50.5M) hit on Silvergate Media, the Peter Rabbit producer it acquired for $195M in 2019.
Sony declared the impairment in accounts for Columbia Pictures Corporation Limited, the parent company for its operations in the UK, where Silvergate was founded in 2011.
Columbia Pictures Corporation did not provide reasons for the impairment and Sony declined to comment when approached by Deadline.
Kids TV is enduring something of a crisis in the UK, where key players have been hit by waning traditional TV audiences, a sharp rise in production costs, and declining commercial opportunities to sell shows around the world. The Children’s Media Foundation is planning an emergency summit.
Silvergate, rebranded as Sony Pictures Television – Kids in 2022, made the Nickelodeon/BBC animated series Peter Rabbit, reimagining the famous Beatrix Potter character. The company also boasts brands including Octonauts.
William Astor, who co-founded Silvergate with Waheed Alli,...
Sony declared the impairment in accounts for Columbia Pictures Corporation Limited, the parent company for its operations in the UK, where Silvergate was founded in 2011.
Columbia Pictures Corporation did not provide reasons for the impairment and Sony declined to comment when approached by Deadline.
Kids TV is enduring something of a crisis in the UK, where key players have been hit by waning traditional TV audiences, a sharp rise in production costs, and declining commercial opportunities to sell shows around the world. The Children’s Media Foundation is planning an emergency summit.
Silvergate, rebranded as Sony Pictures Television – Kids in 2022, made the Nickelodeon/BBC animated series Peter Rabbit, reimagining the famous Beatrix Potter character. The company also boasts brands including Octonauts.
William Astor, who co-founded Silvergate with Waheed Alli,...
- 1/10/2024
- by Jake Kanter
- Deadline Film + TV
William Astor, who co-founded kids TV juggernaut Silvergate Media, has stepped down as the company’s chair.
Silvergate, which was acquired by Sony Pictures Television in 2019, quietly re-branded as Sony Pictures Television – Kids in 2022.
“I can confirm I am no longer associated with Sony and have resigned as director and chairman,” Astor told Variety. He stepped down at the end of December.
Astor originally co-founded the company alongside well-known British television producer Waheed Alli back in 2011. It is best known for producing children’s animated franchises “Octonauts” — which has inspired films and theme park attractions across the world — and Nickelodeon animation “Peter Rabbit,” based on the classic children’s books by Beatrix Potter. It has also produced shows including “Hilda,” a Netflix animated series based on Luke Pearson’s graphic novels of the same name, and Nickelodeon’s “Sunny Day,” about the adventures of a young hair stylist.
Sony paid...
Silvergate, which was acquired by Sony Pictures Television in 2019, quietly re-branded as Sony Pictures Television – Kids in 2022.
“I can confirm I am no longer associated with Sony and have resigned as director and chairman,” Astor told Variety. He stepped down at the end of December.
Astor originally co-founded the company alongside well-known British television producer Waheed Alli back in 2011. It is best known for producing children’s animated franchises “Octonauts” — which has inspired films and theme park attractions across the world — and Nickelodeon animation “Peter Rabbit,” based on the classic children’s books by Beatrix Potter. It has also produced shows including “Hilda,” a Netflix animated series based on Luke Pearson’s graphic novels of the same name, and Nickelodeon’s “Sunny Day,” about the adventures of a young hair stylist.
Sony paid...
- 1/10/2024
- by K.J. Yossman
- Variety Film + TV
Sony Pictures Television (Spt) has acquired Silvergate Media, a company that focuses on developing, producing and licensing children’s animation, for $195 million.
The independent media company was owned by its own management team as well as Los Angeles-based investment firm Shamrock Capital. Silvergate, which has ownership in “Octonauts” and TV’s “Peter Rabbit,” has offices in New York and London.
Under the terms of the deal, Spt gets 100% of Silvergate Topco Limited, which includes a 49% interest in a joint venture with Beijing-based Wanda Group. Wanda technically holds the rights to “Octonauts.” Additionally, Sony Pictures Entertainment gets a minority stake in Silvergate Bp Bidco Limited, which produces the “Peter Rabbit” television series.
Also Read: Steph Curry and John Legend to Develop Sports Drama 'Signing Day' at Sony
“We are excited to extend our capabilities and gain valuable children’s IP to bolster our entry into the kids’ space,” Mike Hopkins, chairman of Spt,...
The independent media company was owned by its own management team as well as Los Angeles-based investment firm Shamrock Capital. Silvergate, which has ownership in “Octonauts” and TV’s “Peter Rabbit,” has offices in New York and London.
Under the terms of the deal, Spt gets 100% of Silvergate Topco Limited, which includes a 49% interest in a joint venture with Beijing-based Wanda Group. Wanda technically holds the rights to “Octonauts.” Additionally, Sony Pictures Entertainment gets a minority stake in Silvergate Bp Bidco Limited, which produces the “Peter Rabbit” television series.
Also Read: Steph Curry and John Legend to Develop Sports Drama 'Signing Day' at Sony
“We are excited to extend our capabilities and gain valuable children’s IP to bolster our entry into the kids’ space,” Mike Hopkins, chairman of Spt,...
- 12/10/2019
- by Tony Maglio
- The Wrap
Sony Pictures Television has acquired British kids producer Silvergate Media for just under $200M.
The Hollywood studio has bought the Octonauts and Peter Rabbit producer from the La-based investment firm Shamrock Capital and Silvergate’s management team for a total of $195M.
The company’s CEO Waheed Alli and Chairman William Astor will continue in their roles.
Sony has acquired 100% of Silvergate Topco Limited, whose assets include Silvergate’s 49% interest in a joint venture with Beijing-based Wanda Group, which holds the rights to Octonauts. Additionally, it 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.
This comes after Sony Pictures Animation unveiled an expanded slate earlier this year.
Mike Hopkins, Chairman, 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.
The Hollywood studio has bought the Octonauts and Peter Rabbit producer from the La-based investment firm Shamrock Capital and Silvergate’s management team for a total of $195M.
The company’s CEO Waheed Alli and Chairman William Astor will continue in their roles.
Sony has acquired 100% of Silvergate Topco Limited, whose assets include Silvergate’s 49% interest in a joint venture with Beijing-based Wanda Group, which holds the rights to Octonauts. Additionally, it 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.
This comes after Sony Pictures Animation unveiled an expanded slate earlier this year.
Mike Hopkins, Chairman, 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.
- 12/10/2019
- by Peter White
- Deadline Film + TV
Sony Pictures Television is diving into children’s TV in a big way by buying Silvergate Media – the producer behind global hits “Octonauts,” Netflix’s “Hilda” and the “Peter Rabbit” animated series – for $195 million, Variety has learned. The acquisition marks Spt’s first move into producing kids’ TV and follows its stablemate Sony Pictures Animation’s diversification into TV series.
Spt is buying Silvergate from the current management team and Shamrock Capital. L.A.-based investment business Shamrock acquired 51% of Silvergate in 2016. Among Silvergate’s assets is a 49% stake in a joint venture formed last year with China’s Wanda Group. That entity holds the rights to “Octonauts,” the preschool animated series about a band of intrepid underwater explorers. The show started out in the U.K. and has become a global success.
Sony has also acquired a minority stake in Silvergate Bp Bidco, which owns the “Peter Rabbit” animated TV series.
Spt is buying Silvergate from the current management team and Shamrock Capital. L.A.-based investment business Shamrock acquired 51% of Silvergate in 2016. Among Silvergate’s assets is a 49% stake in a joint venture formed last year with China’s Wanda Group. That entity holds the rights to “Octonauts,” the preschool animated series about a band of intrepid underwater explorers. The show started out in the U.K. and has become a global success.
Sony has also acquired a minority stake in Silvergate Bp Bidco, which owns the “Peter Rabbit” animated TV series.
- 12/10/2019
- by Stewart Clarke
- Variety Film + TV
Silvergate Media, producer of global hit children’s series “Octonauts,” has set up shop in China. It’s making two “Octonauts” movies with Wanda’s kids entertainment division, and will also work up new properties for the local market that it will also push out internationally, Silvergate CEO and co-founder Waheed Alli told Variety.
The company’s China launch comes after it teamed with Chinese state broadcaster CCTV to co-produce Season 5 of “Octonauts,” an animated preschool series that follows a band of animal aquatic adventurers. Silvergate also makes the “Peter Rabbit” animated series and Nick Jr. show “Sunny Day.”
Its creative team is mostly based in New York and L.A., with commercial activity run out of London. Alli is based in the U.K. but spends 10 days a month in the U.S. “Building a franchise is what we’re good at, but it does mean you have to be present in the U.
The company’s China launch comes after it teamed with Chinese state broadcaster CCTV to co-produce Season 5 of “Octonauts,” an animated preschool series that follows a band of animal aquatic adventurers. Silvergate also makes the “Peter Rabbit” animated series and Nick Jr. show “Sunny Day.”
Its creative team is mostly based in New York and L.A., with commercial activity run out of London. Alli is based in the U.K. but spends 10 days a month in the U.S. “Building a franchise is what we’re good at, but it does mean you have to be present in the U.
- 7/2/2018
- by Stewart Clarke
- Variety Film + TV
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