Sony Corp.'s U.S. unit has acquired Silvergate Media Holdings Ltd., the producer behind the "Peter Rabbit" TV series, for $195 million (¥21 billion) to enhance its content business for children, Sony said Wednesday.
Under the deal with the London-based firm, Sony Pictures Entertainment Inc. has acquired a 49 percent interest in a joint venture that holds the rights to the animated hit series "The Octonauts" and a minority stake in the firm producing the "Peter Rabbit" series.
Sony Pictures said Silvergate has a "strong and growing presence in China, collaborating with Chinese conglomerates and effectively monetizing (intellectual property) with its partners."
The purchase comes as Sony is seeking stable revenue through its intellectual property and content business in its mainstay pictures, music and games segments.
Last year, Sony's subsidiary acquired a 39 percent stake in Peanuts Holdings LLC, the intellectual property holder of the popular comic character Snoopy for $185 million.
It also bought an additional 60 percent stake in the New York-based EMI Music, which owns or administers 2 million songs by artists such as Kanye West and Alicia Keys, and made it into a subsidiary in a $1.9 billion deal.