Sony Pictures Entertainment has sold GSN Games — a division of its Game Show Network cable channel — to mobile gaming publisher Scopely in a deal valued at $1 billion.
Sony purchased AT&T’s minority stake in Game Show Network for just over $500 million in 2019, giving it 100% control of the network.
It will retain a minority stake in the studio behind free-to-play titles like “Scrabble Go” and “Star Trek Fleet Command” after the sale to Scopely.
While one subsidiary offloads GSN Games, Sony Interactive Entertainment has been expanding its gaming reach through a series of acquisitions intended to strengthen PlayStation Studios.
- The company acquired Housemarque, the studio behind PlayStation 5 hit “Returnal,” in June.
- In July, it bought Netherlands-based Nixxes Software.
- The company bought video game developer Bluepoint Games in September.
- The same month, it acquired Liverpool-based gaming company Firesprite.
Sony Corp. posted a record operating profit of $2.57 billion in fiscal Q1 — a 15% increase year-over-year — thanks in large part to the PS5, which at 10 million-plus global units since November 2020 is the fastest-selling console in Sony’s history.
GSN Games’ new owner Scopely was last valued at $3.3 billion after raising $340 million during a funding round in October 2020.
