The size of the stake and the price were not disclosed, but the company said the deal values Industrial Media at $350 million.
The hope is that CNN+ will serve as a gateway to a post-pay TV world, connecting the brand’s familiar red and white letters to a generation of viewers who are growing up without cable.in recent months. Itanime streaming service Crunchyroll from AT&T for $1.175 billion in August and recently merged it with Funimation, its own service that specializes in the genre.
Industrial Media will expand Sony Pictures Television’s programming portfolio and expand on its strategy of being a major supplier of content to media companies, which are investing heavily in building their own streaming services. Industrial’s production holdings also include B17 Entertainment, House of NonFiction, the Intellectual Property Corp. , This Machine Filmworks, This Radicle Act, and Trilogy Films. Their program customers include HBO, HBO Max, Apple TV and Hulu.is generating major buzz and controversy. The program looks at the treatment of Playboy bunnies who worked for the late iconic magazine founder Hugh Hefner.
Sony also announced that Suzanne Prete, who currently oversees Sony’s “Jeopardy!” and “Wheel of Fortune,” will lead a newly formed game show production division for the company. She will report to Ahuja.
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