Sky acquires Parthenon Media Group to create new distribution division
Sky has announced that it is to establish a new distribution division following the acquisition of Parthenon Media Group.
The move is part of its strategy to increase its investment in original content and help accelerate its plans for international rights management.
The new model will aim to generate additional revenue from its content investment through the sale of overseas rights, with the company having invested over £450 million in British commissioning and production, it claims.
Sky also intends this investment to rise to £600 million by 2014.
Following the acquisition, the current Parthenon team, led by founder and CEO, Carl Hall, will head up the new division within Sky, reporting to Sophie Turner Laing, Sky’s managing director of Entertainment, News and Broadcast Operations.
Laing commented: “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.”
Hall added: “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.”