Sony Pictures Entertainment Announces the Transfer of Certain Game Show Network Operations
Sony Pictures Entertainment - 10/19/2021
October 18, 2021 (Pacific Standard Time) – Sony Pictures Entertainment Inc. (“SPE”), a wholly-owned subsidiary of Sony Group Corporation (“Sony”), and Scopely, Inc. (“Scopely”) today announced that Scopely has agreed to acquire GSN Games, a division of Game Show Network, LLC, a wholly-owned subsidiary of SPE. The consideration of this transaction is approximately 1 billion U.S. dollars, subject to customary working capital and other adjustments. SPE will receive half of the consideration in cash and the remainder in preferred equity. This transaction is subject to customary closing conditions, including regulatory approvals. For further details, please refer to the attached press release.
Sony expects to record a gain resulting from the transfer as operating profit upon its completion, and Sony is currently assessing the impact, including the amount of such gain and other factors, on its forecast for consolidated financial results for the fiscal year ending March 31, 2022.
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