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EXCLUSIVE: Sony Pictures Television has quietly taken full control. the crown Producer Left Bank Pictures in a £5.5M ($6.6M) deal.
Sony has acquired the 5.32% stake in Left Bank it didn’t own, valuing the production house at £103M ($124M) nearly 15 years after it first launched in the UK.
The deal was completed last June but was revealed for the first time in two sets of Left Bank earnings published this week on British companies register Companies House.
Deloitte, the consultancy giant, was busy valuing the bank’s shares left by employees, including the producer’s founder and chief executive Andy Harris.
Sony first invested in Left Bank four years ago in 2012. the crown Streamed on Netflix. The company is currently shooting for the sixth and final season of the royal drama.
Left Bank has a complex corporate structure and its revenues are divided among several subsidiaries. Left Bank Pictures Television, parent company of Special Purpose Vehicles the crownreported revenue of £147.8M ($177.5M) in the year to March 2022. This was a 1,101% increase on last year’s £12.5M ($15M) revenue when the crown Was on a gap year.
Left Bank Pictures Television’s pre-tax profit for 2021 was £14M ($16.8M) compared with a loss of £2M ($2.4M) last year, according to a financial filing.
Sony and Left Bank declined to comment.
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