AT&T said it has sold its 42% interest in the Game Show Network to Sony Pictures Entertainment for about $500 million, giving the latter full control of the channel, which carries original and classic game shows and online and mobile games. As part of the deal, AT&T’s DirecTV satellite TV service has agreed to continue carrying the channel.
Sony already owned a 58% interest in Game Show Network. AT&T said it received about $380 million in proceeds for its equity stake dividends of approximately $130 million. Sony Pictures Television will continue to manage Game Show Network and Mark Feldman will remain as its president and CEO.
“We’re excited to bring Game Show Network fully into the Sony Pictures Entertainment portfolio,” Sony Pictures Television chairman Mike Hopkins said in a press release. “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, all of which directly aligns with our strategy of developing targeted direct-to-consumer offerings.”
In addition to classic game shows like The $25,000 Pyramid and Card Sharks, the network carries originals like America Says, The Chase, Common Knowledge and Catch 21, and syndicated programming such as Wheel of Fortune and Family Feud. Its online games include GSN Casino, Bingo Bash, Wheel of Fortune® Slots, Solitaire TriPeaks, and WorldWinner, and others.