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The Branded Entertainment Network (BEN) Announces Sale of Splash News to SilverHub Media UK Ltd.The Branded Entertainment Network, which connects global brands to consumers through the power of popular entertainment, today announced the sale of its Splash News business to SilverHub Media UK Ltd. Financial and other terms of the deal were not disclosed. The deal is expected to close on December 16, 2016. For the Branded Entertainment Network, the sale represents the successful completion of the company's transition from an image licensing business into an entertainment advertising-focused business that includes: BEN, the world's leading product integration platform and services company, and Greenlight, the global leading agency for rights and music clearances. As part of its transition, the Branded Entertainment Network initially sold its Corbis Images and Motion licensing businesses to an affiliate of Visual China Group in January 2016. SilverHub Media was founded in 2016 with a mission to create rich content experiences for its customers and to provide content creators with global distribution platforms, trusted representation and industry leading practices. With the acquisition of Splash News, the company is advancing its strategy by adding the world's leading celebrity and entertainment breaking news agency, which provides images, video and stories to publishers across the globe. "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 hift all of our attention to these rapidly growing areas of our business," said Gary Shenk, CEO of the 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," Shenk said. Nick Evans-Lombe, Co-founder of SilverHub Media said, "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. We are excited to welcome such a talented team of individuals whose experience, relationships and leadership will fit well within the SilverHub culture." About The Branded Entertainment Network (BEN) The Branded Entertainment Network empowers agencies, brands, publishers, and other media producers to capture the attention of audiences worldwide by integrating premium and timely entertainment content into their communications. From the world's leading product integration platform (BEN) to the global leading agency for rights and music clearances (Greenlight), Branded Entertainment Network helps elevate projects, amplify brands, and captivate audiences. For additional information visit: www.bengroup.com About SilverHub Media SilverHub is a new agency that is serving the need for content across the celebrity, sports and entertainment landscape. SilverHub was founded in 2016 by an extremely strong and experienced team who bring huge passion and expertise to all areas of the content business. Combining rich content creation such as photography, video and VR experiences with a collaborative approach SilverHub delivers brilliant content, that works. To learn more about SilverHub, please visit www.silverhub.media
View source version on businesswire.com: http://www.businesswire.com/news/home/20161202005095/en/ |
