Eyeworks Bolsters Warner Bros. Television’s Global Reach
Warner Bros. Television Group announced it entered into an agreement to purchase television production company Eyeworks’ businesses outside the United States. The purchase includes 13 territories, which span 15 countries across Europe, South America, Australia and New Zealand.
Warner Bros. CEO Kevin Tsujihara said yesterday in announcing the deal: “Our proposed acquisition of Eyeworks’ 15 local production companies represents significant next steps in our strategy, further strengthening Warner Bros.’ position in global television.”
The acquisition of Eyeworks’ international businesses not only reinforces Warner Bros. position in television, but it reflects Time Warner’s overall international growth strategy, which focuses on expanding into higher growth markets and includes increasing production of local language content.
During Time Warner’s fourth-quarter 2013 earnings call earlier this month, Time Warner Chairman and CEO Jeff Bewkes highlighted this strategy saying, “We’re increasing our presence in the most attractive international territories to take advantage of growing demand for our content outside the United States.”
Under Warner Bros., Eyeworks will continue to produce and distribute content across a range of genres, including drama, entertainment and film. Notable programming produced by Eyeworks includes Test The Nation, Who Wants to Marry my Son?, and Celebrity Splash.