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Sony unit buys Silvergate Media

Sony Pictures Entertainment Inc. company Sony Pictures Television Inc. acquired Silvergate Media Ltd., which develops, produces and licenses children's animation, from Silvergate's management team and from private equity firm Shamrock Capital Advisors LLC.

Under the deal, Sony Pictures Entertainment, through a wholly owned subsidiary, acquired 100% of Silvergate Topco Ltd., whose assets include Silvergate's 49% interest in a joint venture with Dalian Wanda Group Co Ltd., which holds the rights to "Octonauts."

Additionally, Sony Pictures Entertainment acquired a minority stake in Silvergate BP Bidco Ltd., which produces the "Peter Rabbit" television series and will continue to be majority-owned by Silvergate CEO Waheed Alli.

The total purchase price was approximately $195 million.

Silvergate will continue to be managed by Alli, and William Astor will continue as chairman of the company.

Sony Pictures Television is a unit of Sony Corp.

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