Sky Creates Content Distribution Arm With Acquisition Of Parthenon Media Group

As it increases its investment in original British fare, Sky has acquired Parthenon Media Group to establish an international distribution arm within the company. Parthenon founder and CEO Carl Hall will oversee the new business. Sky has said it intends to up its annual spend on British content creation to £600M by 2014. Funds generated by sales of its original programming will be funneled back into UK production. Among shows commissioned this year are dramas and comedies starring Hayley Atwell, Brenda Blethyn, Stephen Fry, Richard E. Grant, John Hurt, Eddie Marsan, Stellan Skarsgård, David Tennant, Emma Thompson and Olivia Williams. Sky1 comedies Stella, Starlings and Trollied have all been ordered for a second run and drama Hit & Miss, starring Chloe Sevigny, started its run in May. The indie Parthenon has distributed and produced factual and children’s programming since 2002 and has 1,400 hours in its catalog, according to its website. As of June 30, 2011 it had gross assets of £18.2M, although financial terms for the Sky deal were not disclosed.