Sony Pictures Entertainment completed the acquisition of Silvergate Media for $193m.

Sony Pictures Entertainment, an American entertainment company, completed the acquisition of Silvergate Media, a developer of children’s brands for broadcasters, streaming platforms and retail partners, for $193m. Sony acquired the company from its management team and from the L.A.-based investment firm Shamrock Capital. In a statement, Sony said the deal “underlines SPT’s strategy of diversifying its studio business and growing key genres” by expanding its presence in the lucrative children’s programming space. Specifically, the deal marks a significant expansion into the children’s animation genre.