Sony Pictures Entertainment has acquired AT&T’s minority stake in Game Show Network for $500 million, the two companies announced.
SPE now owns 100% of the multimedia entertainment company offering original and classic game programming to millions of subscribers through the U.S.-based cable network. It also offers online and mobile games to millions of users through GSN Games. Following the transaction, the Game Show Network channel will continue to be carried on DirecTV.
Prior to the transaction, SPE owned a 58% stake in Game Show Network, and AT&T owned the remaining 42%.
Game Show Network will continue to be managed by Sony Pictures Television with Mark Feldman continuing as president and CEO of the multimedia outlet.
“We’re excited to bring Game Show Network fully into the Sony Pictures Entertainment portfolio,” said Mike Hopkins, chairman, Sony Pictures Television, in a statement. “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.”
Game Show Network television programming includes originals such as “America Says,” “The Chase,” “Common Knowledge” and “Catch 21,” syndicated shows including “Wheel of Fortune” and “Family Feud,” and classics including “The $25,000 Pyramid” and “Card Sharks.” GSN Games’ collection of mobile games includes GSN Casino, Bingo Bash, Wheel of Fortune Slots, Solitaire TriPeaks and WorldWinner.