LES ARCS, France– Dutch production company Tuvalu Media has regained its independence after acquiring Sony Pictures Entertainment’s 60-percent stake in the outfit.
Tuvalu joined forces with Karmign, a financing firm, to buy SPE’s shares, according to a report from TBI.
Sony Pictures Ent. bought a majority stake in Tuvalu in 2008 to use it as its production arm across the Benelux region and rep its factual entertainment formats’ catalog, notably “Milky Way Mission,” a reality show commissioned by Dutch broadcaster Nederland 1, featuring 10 celebrities who undergo strict astronaut training.
Taco Zimmerman will remain managing topper of Tuvalu, while Tuvalu co-founder Roel Kooi will ankle, per TBI.
More to come.