London - Sony Pictures Entertainment (SPE) announced today that it has successfully acquired control of the Dutch entertainment company, 2waytraffic. The acquisition gives SPE new capabilities in the global light entertainment market, which includes games, variety and reality shows, and gives SPE one of the largest gameshow portfolios in the world.
All the conditions of the public offer for 2waytraffic announced on March 13, 2008 have been satisfied or waived, and 2waytraffic has made application to cancel the admission to trading of all its shares on the Alternative Investment Market of the London Stock Exchange. The offer from SPE to acquire 2waytraffic was for an initial cash consideration of £114.3 million (US$223 million).
“The acquisition of 2waytraffic is part of our strategy to expand global production and distribution of light entertainment content,” said Michael Lynton, Chairman and CEO of SPE. “This opens the door to new content for us, and brings to our business a solid distribution infrastructure, strengthening our position for an efficient roll-out of formats internationally.”
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