HBO Inc, the subsidiary of Time Warner, has taken a majority stake in its Asian joint venture company, HBO Asia. Earlier, the HBO Asia division was jointly held by HBO, NBC Universal, Paramount Films and Sony Pictures Entertainment. According to the new equity structure, HBO Asia will now be owned by HBO and Paramount. HBO is present in 22 countries across Asia.
Jonathan Spink, CEO, HBO Asia, said, “HBO is gaining majority control in the venture. We will not be able to comment on the percentage of the stake. The initiative will only further strengthen our brand presence in Asia. HBO Asia has a very successful business and is a strong brand in the region. The media environment here is extremely dynamic and the future does throw a lot of possibilities. We are definitely open to expanding our presence in this market, if it makes good business sense.”
He further said, “Though NBC Universal and Sony Entertainment are out of the new structure, there will be no changes in the programming content as we will continue to have ongoing output deals with major Hollywood studios, including Columbia/TriStar, NBC Universal, Paramount/DreamWorks and Warner Bros.”