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Sony Pictures TV Networks to buy majority stake in Turkey’s Planet TV
MUMBAI: Sony Pictures Television (SPT) Networks has entered into a joint venture with ad sales firm Satis Ofisi. The company will take a majority stake in the Planet TV group in Turkey, post regulatory approval.
The deal comprises four free-to-air (FTA) TV channels. Planet Pembe airs Turkish dramas and telenovelas while Planet Turk shows Turkish movies. Planet Mutfak, on the other hand, is a cooking channel while Planet Cocuk focuses on locally-produced kids programming.
SPT Networks senior VP Ceema Lyle Stewart said, “Turkey is an incredibly vibrant market and we’ve been looking for the right opportunity to establish a footprint there for some time. We look forward to bringing our expertise in building strong international channel brands to Planet TV to help the portfolio go from strength to strength.”
Satis Ofisi chairman Sevin Ergun said, “Planet TV has spearheaded themed TV channels in Turkey and filled a real gap in the free to air market. The channels have a strong identity which is reflected in the success we’ve already had among both viewers and advertisers. We believe that Sony Pictures Television’s strong brand values will allow us to further build on that success.”
Under the terms of the deal, Satis Ofisi will continue to be the ad sales house for the Planet TV portfolio.