Acquisition will bolster SilverHub’s entertainment offerings.
Financial and other terms of the deal were not disclosed. However, for Branded Entertainment Network, the sale represents the company’s transition from an image licensing business to an entertainment advertising-focused business. The company also sold its Corbis Images and Motion licensing businesses to an affiliate of Visual China Group in January 2016.
“The sale of Splash News to SilverHub Media culminates our successful evolution from an image licensing business to a purely entertainment advertising focused company. Through our highly successful BEN and Greenlight brands, we are at the forefront of key trends in advertising and the time was right to capitalize on our investment in Splash and shift all of our attention to these rapidly growing areas of our business,” says Gary Shenk, chief executive officer, Branded Entertainment Network. “SilverHub Media has a very strong and experienced management team and is dedicated to delivering world class content, so it is the ideal partner to acquire the Splash News business.”
“The acquisition of a respected brand like Splash News continues our strategy to reinvigorate the worlds of celebrity, sports and entertainment content and invest for growth,” says Nick Evans-Lombe, co-founder, SilverHub Media. “We are excited to welcome such a talented team of individuals whose experience, relationships and leadership will fit well within the SilverHub culture.”
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