SBS has increased its ownership of PAN TV, which operates the World Movies channel.
Currently holding 40% of shares, the broadcaster will increase its holding to 100%, buying out the other existing shareholders.
PAN TV currently operates out of SBS’ Sydney headquarters, with the public broadcaster enjoying a content sharing deal with the World Movies Channel.
“SBS’ investment in PAN TV has been a successful one in both a business and content context,” said Managing Director Shaun Brown.
“When the chance came to increase our shareholding and take-over the PAN TV operations, the SBS Board and management considered it an opportunity to distribute more multicultural and multilingual content across more platforms while having a positive impact on SBS’s overall bottom line.”
SBS says its involvement in subscription television will continue to be managed at arms length from its core activities.