October 21, 2014 / 10:31 AM / 5 years ago

Sony Pictures TV acquires stakes in Israeli telenovela channels

JERUSALEM (Reuters) - Sony Pictures Television agreed to buy 50 percent stakes in two Israeli telenovela cable TV channels from Dori Media Group, the companies said on Tuesday.

Financial details were not disclosed.

“This acquisition builds on our strategy to capitalize on channels opportunities around the world, which includes entering new markets,” said Andy Kaplan, president of Sony Pictures Television’s worldwide networks.

In June, it acquired the UK’s CSC Media Group.

The two channels in Israel - VIVA and VIVA Plus - show telenovelas and are highly popular.

Sony Pictures Television, a unit of Sony Entertainment (6758.T), also agreed to buy 50 percent of the VIVA Walla online free video on demand service in Israel as well as half of Dori Media’s Baby TV operations in Indonesia.

Reporting by Steven Scheer

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