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Report: Sony Pictures buys stake in Italian VOD platform

Sony Corp. unit Sony Pictures Entertainment Inc. bought about 5% minority stake in Italian video-on-demand platform Chili SpA, worth about €3 million, Bloomberg News reported Dec. 19, citing people familiar with the matter.

Founded in 2012, Chili counts Paramount Pictures Corp., its parent Viacom Inc. and Time Warner Inc.'s Warner Bros. Entertainment Inc. among its investors. The three companies collectively own about 14% of Chili, according to the report.

Chili also operates in Austria, Germany, Poland and the U.K.