Sony Pictures Television Acquires Industrial Media In $300M+ Deal, Restructures Its Unscripted Operations
Sony Pictures Television is expanding its unscripted footprint in a big way. The TV studio has signed an agreement to acquire independent nonfiction production company Industrial Media whose portfolio includes such series as American idol, 90 Day Fiancé, Indian Matchmaking, Selena+Chef and So You Think You Can Dance. Upon closing, Sony Pictures will acquire a majority controlling interest in Industrial Media based on a purchase price which values the company at $350M. Sony’s stake is believed to be close to 100%, valuing the deal at more than $300M. (The transaction is subject to customary closing conditions, including regulatory approvals.)