Sponsored by: Investment Center

Something new in your business?  Click here to submit your business press release

Chamber Corner | Main Street News | Job Hunt | Classifieds | Calendar | Illinois Lottery 

Sony Pictures TV acquires stakes in Israeli telenovela channels

[October 21, 2014]  JERUSALEM (Reuters) - Sony Pictures Television agreed to buy 50 percent stakes in two Israeli telenovela cable TV channels from Dori Media Group, the companies said on Tuesday.

Financial details were not disclosed.

"This acquisition builds on our strategy to capitalize on channels opportunities around the world, which includes entering new markets," said Andy Kaplan, president of Sony Pictures Television's worldwide networks.

In June, it acquired the UK's CSC Media Group.

The two channels in Israel - VIVA and VIVA Plus - show telenovelas and are highly popular.

Sony Pictures Television, a unit of Sony Entertainment <6758.T>, also agreed to buy 50 percent of the VIVA Walla online free video on demand service in Israel as well as half of Dori Media's Baby TV operations in Indonesia.

(Reporting by Steven Scheer)

[© 2014 Thomson Reuters. All rights reserved.]

Copyright 2014 Reuters. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.