Former Sony Pictures Television executives Andy Kaplan and George Chien have cut a deal with Sony to acquire three entertainment networks that serve Southeast Asia and South Korea. Kaplan and Chien…
have cut a deal with Sony to acquire three entertainment networks that serve Southeast Asia and South Korea.
“What we’re going to bring to this particular business is an Asian-focused entrepreneurial point of view,” Kaplan said. “The conventional wisdom is that being part of a big company, you get the benefits of synergies and leverage. Our point of view is there are things we can do as a smaller entity rather than being part of a bigger corporate structure that can have tremendous benefits.”
For Sony, the decision to sell reflects the studio’s shift in strategy under the direction of chairman-CEO Tony Vinciquerra to focus in large part on content licensing rather than maintaining a host of its own proprietary networks. Sony, like other large media conglomerates, invested significant resources starting in the 1990s to build up big portfolios of linear and satellite-delivered international channels that at one time were reliable sources of high margin earnings.
Kaplan and Chien emphasized that they have the personal relationships with the major studios to maintain those deals. Kaplan and Chien would not comment on the financial terms of the deal or whether KC Global Media has investors or partners lined up to help operate the business. Financial details of the deal were not disclosed.
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