Sony Pictures Entertainment Buys AT&T’s Stake in Game Show Network

  • Variety
Sony Pictures Entertainment has bought out AT&T’s minority interest in Game Show Network for about $500 million.

The deal makes Sony the sole owner of Gsn. AT&T had owned 42% of the company, which the telco giant inherited with its purchase of DirecTV in 2015. AT&T has been on a mission this year to pay down the $180 billion debt load left by its acquisitions of DirecTV and Time Warner. AT&T’s debt stands at about $154 billion, according to its third-quarter earnings report last month.

“We’re excited to bring Game Show Network fully into the Sony Pictures Entertainment portfolio,” said Mike Hopkins, chairman of Sony Pictures Television. “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,
See full article at Variety »

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