Sony Pictures Television Buys Children’s Animation Company Silvergate Media for $195 Million

Silvergate has ownership in “Octonauts” and “Peter Rabbit”

Last Updated: December 10, 2019 @ 7:40 AM

Sony Pictures Television (SPT) has acquired Silvergate Media, a company that focuses on developing, producing and licensing children’s animation, for $195 million.

The independent media company was owned by its own management team as well as Los Angeles-based investment firm Shamrock Capital. Silvergate, which has ownership in “Octonauts” and TV’s “Peter Rabbit,” has offices in New York and London.

Under the terms of the deal, SPT gets 100% of Silvergate Topco Limited, which includes a 49% interest in a joint venture with Beijing-based Wanda Group. Wanda technically holds the rights to “Octonauts.” Additionally, Sony Pictures Entertainment gets a minority stake in Silvergate BP Bidco Limited, which produces the “Peter Rabbit” television series.

“We are excited to extend our capabilities and gain valuable children’s IP to bolster our entry into the kids’ space,” Mike Hopkins, chairman of SPT, said. “Silvergate gives us a great building block to expand into this genre in a meaningful way.”

Silvergate will continue to be managed by CEO Waheed Alli, who is the majority owner of Silvergate BP Bidco Limited.

“We are all excited about joining SPT and the creative teams within the SPT family,” Alli said. “2020 will see a new and strong development slate coming to market with some exciting new series in the pipeline.”

William Astor will continue as Silvergate chairman.

Silvergate was founded in October 2011 through the purchase of rights to two preschool properties. Over the past few years, the company has significantly expanded its children’s IP. Silvergate has a strong and growing presence in China.

“This is the beginning of an exciting new chapter for the team at Silvergate,” said Will Wynperle, partner at Shamrock. “Over the past several years, the company has significantly grown its portfolio of brands, many of which can be seen on a global basis. We have enjoyed working with the Silvergate team over the past several years and they are excited about their new partnership with SPT.”

Alvarium served as financial advisor to Silvergate Media and Foot Anstey LLP served as its legal counsel. Latham & Watkins served as legal advisor to SPT.

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