RNS Number : 6751I
British Sky Broadcasting Group PLC
27 July 2012
PRESS RELEASE - FOR PUBLICATION
27th July 2012
Sky to Create Content Distribution Arm with Acquisition of Parthenon Media Group
Sky is to establish a new distribution arm to market the international rights to its originated content. As part of the move, Sky has completed the acquisition of Parthenon Media Group, a leading independent international distribution and multi-media rights management company.
In line with Sky's on-going commitment to increasing its investment in original content, the creation of a high quality distribution capability will help Sky accelerate its plans for international rights management. This will include playing a central role in the way Sky's commissioned content is showcased to the international market.
The new in-house model will help generate additional revenues from Sky's content investment from the sale of overseas rights, which will enable Sky to reinvest even more in the UK's creative economy, for the benefit of customers and content makers alike.
Sky is one of the largest investors in original British content. This year alone it has invested more than £450 million in British commissioning and production. This is set to increase to £600 million a year by 2014, with most of the growth set to come in genres such as drama, comedy, entertainment, arts and factual.
The current Parthenon team, led by founder and CEO, Carl Hall, will lead the new function within Sky, reporting to Sophie Turner Laing, Sky's MD of Entertainment, News and Broadcast Operations.
Sophie Turner Laing, comments: "As we continue to increase investment in UK production, this is a natural step in the evolution of Sky's content business. We are producing world class television - innovative, creatively ambitious and, in many cases, on an epic scale. It's only right that we match this with world class aspirations for how we take this content to as wide an international audience as possible."
"We are delighted to be moving into distribution with Carl and the team at Parthenon. I'm confident that together we will be able to create a model that delivers great opportunities for our independent production partners as well as Sky. This is a tremendously exciting time, both for us and those who are making great TV with us."
Carl Hall adds: "This is a great day for everyone associated with Parthenon. Over the past ten years, our success has been built upon our unique, boutique-style approach to all our content providers. I am honoured to be leading the new distribution division within Sky. This will also open new and exciting opportunities for international producers looking to benefit from the support of one of the UK's largest investors in original content and a global leader in the provision of world-class television."
On 26 July 2012, Sky completed the acquisition of Parthenon Media Group ("Parthenon"). Parthenon had gross assets of £18.2 million as at 30 June 2011, its most recent audited group financial statements.
Stephen Gaynor, Corporate Communications, BSkyB
Lang Messer, Investor Relations, BSkyB
This information is provided by RNS
The company news service from the London Stock Exchange