Sony Takes Full Control Of Left Bank Pictures In Deal Valuing ‘The Crown’ Producer At $124M

Specific: Sony Pictures Television quietly takes over full control Crown the creator left bank pictures in a deal worth £5.5M ($6.6M).

Sony has acquired 5.32% of Left Bank, 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 disclosed 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 engaged to determine the value of Left Bank shares held by employees including Andy HarrisFounder and CEO of Maker.

Sony first invested in Left Bank four years ago in 2012 Crown Streamed on Netflix. The company is currently shooting for the sixth and final season of the lavish royal drama.

Left Bank has a complex corporate structure and its earnings are divided among several subsidiaries. Left Bank Pictures Television, parent company of Special Purpose Vehicles CrownReported revenue of £147.8M ($177.5M) in the year to March 2022. This was an increase of 1,101% on the previous year’s revenue of £12.5M ($15M) when Crown Was on gap year.

Left Bank Pictures Television’s pre-tax profit last year was £14M ($16.8M), compared to a loss of £2M ($2.4M) in 2021, according to a financial document.

Sony and Left Bank declined to comment.