Yahoo Finance KC Global Media Entertainment Completes Sony Asia Networks Acquisition
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KC Global Media Entertainment has completed its acquisition of a group of Asian pay TV channels from Sony Pictures Entertainment. The transaction, first unveiled in January, now includes another Sony TV brand, Japanese entertainment outlet GEM.
KC Global Media is headed by Sony international TV alums Andy Kaplan and George Chien. The two joined forces last year to acquire the assets that both previously ran during their long respective tenures with Sony.
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The upheaval in the world since the agreement was inked in early January has only heightened Kaplan and Chien’s eagerness to officially take the reins of the group which encompasses the AXN, Animax and ONE brands in addition to GEM.
“In the last couple of months what’s changed is how the world is looking at the television business,” Kaplan told Variety. KC Global Media is in the market for other acquisitions in the region, he said.
KC Global Media intends to step up the volume of original entertainment production in South Korea, Japan, Singapore and other markets. But that process will be more complicated than predicted because of the need for coronavirus precautions.
“The last couple of months have posed 50 questions we hadn’t thought we were going to have to ask. It creates a lot of opportunity to think about things differently. From chaos comes opportunity,” Kaplan said.
As part of the transaction, KC Global Media has promoted Avani Bhanchawat to VP of affiliates, media and sponsorship sales, based in Singapore. Bhanchawat had been with Sony since 2017. Before that, she worked in Asia and Africa for Viacom International Media Networks.
“With her depth of experience and outstanding track record in driving revenue, Avani will undoubtedly be an asset to KC Global Media Entertainment in her new role. I strongly believe her astute business acumen will see her further strengthen our existing partnerships, while forging new strategic relationships and identifying opportunities for growth in order to provide world-class entertainment to our Asian audiences,” said Chien.
(Pictured: Andy Kaplan, George Chien)
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