Sony Pictures Television has acquired a 50% stake in a number of television channels owned and operated by Israel's Dori Media Group, including Viva and Viva Plus Cable.
As part of the deal a new company called Dori TLV will be established. Through it, Dori and Sony will jointly own equal shares in the two Viva channels in Israel, the Viva Walla online free video on demand service, the Baby TV channel in Indonesia, and Dori Media Ot, which provides dubbing and subtitling services.
While the exact amount paid by Sony for the acquisition was not revealed, Globes estimates its value at tens of millions of Shekels.
Dori Media Group is an international group of media companies, located in Israel, Switzerland, Argentina and the US. Owned by Tamar Mozes Borovitz and President and CEO Nadav Palti, the group produces and distributes TV and New Media content, broadcasts various TV channels and operates
video-content internet sites. It owns approximately 5,500 TV hours; more than 7,000 3-minute video clips; 120 9-minute webisodes and around 550
1-5-minute cellular episodes of telenovelas and daily dramas, which it sells to a wide variety of audiences in more than 100 countries.
Dori Media owns and operates two Viva branded telenovela channels, carried by all Israeli
multi-channel platforms as well as a very successful Viva video internet site.
Andy Kaplan, President of Sony Pictures Television's worldwide networks, said: "This acquisition builds on our strategy to capitalize on channels opportunities around the world, which includes entering new markets. We've had a great experience working with the DMG team and are happy to be expanding our relationship."
Nadav Palti, president and CEO of DMG, said, "SPT Networks' decision to expand our working relationship in Indonesia, and in Israel for the first time, reflects the strength of our position in two excellent markets."
The deal marks Sony's first venture into the Israeli media market. The two companies have been working in partnership for the last 18 months.